Following Akzo Nobel's (AKZOY) rejection of PPG's (PPG - Get Report) $29.5 billion takeover bid, the firm's CEO Ton Büchner still faces challenges, especially splitting the company in two, according to the Financial Times.
Akzo said the separation of its specialty chemicals business from its paints and coatings unit would take place within the next 12 months.
However, Büchner must now execute on the profitability promises that were made when defending the split to be the operative move over the PPG buyout.
"We believe this plan creates superior value" to the PPG offer, Büchner said in April. "It has significantly less uncertainty."
Additionally, he must reconcile strained relationships with some investors who were irritated by the paint giant's handling of the episode.
"[Büchner] has a lot of bridges to rebuild," said one top five shareholder in Akzo. "We also want tangible answers on how they plan to achieve their standalone plan."
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