July 25, 2017

AkzoNobel today announces a new structure for its Executive Committee. This change is designed to drive operational excellence, increase customer focus, and build further momentum and speed into the organization.

In the new Executive Committee the following roles will continue:
  • Chief Executive Officer (Thierry Vanlancker)
  • Chief Financial Officer (Maëlys Castella)
  • General Counsel (Sven Dumoulin)
  • Chief Human Resources Officer (Marten Booisma)

Changes to the Executive Committee following the new set-up:
  • Chief Operating Officer (Ruud Joosten, former head of Decorative Paints)
  • Integrated Supply Chain Leader (David Allen, elevated to Executive Committee)
  • In addition, Werner Fuhrmann will return to AkzoNobel in the role of head of Specialty Chemicals

Effective immediately, Ruud Joosten is named Chief Operating Officer (COO) Paints & Coatings. Working closely with CEO Thierry Vanlancker, the COO will lead the Performance Coatings and Decorative Paints businesses. He will be responsible for accelerating growth, the execution of the company's strategy, and the performance to deliver on the agreed targets.

In addition, the direct responsibility for the Paints & Coatings operations - including all manufacturing, supply chain and logistics, site management, health & safety (HSE&S), and procurement will now fall under the responsibility of the Integrated Supply Chain Leader, David Allen.

Thierry Vanlancker, CEO, commented:

"We aim to build on the successful foundation of operational excellence that AkzoNobel has laid over the past years. With Ruud Joosten stepping up as our new COO and David Allen joining our Executive Committee in the role of Integrated Supply Chain Leader, this new Executive Committee will be faster to drive integrated business planning and quick decision making. It will also enable optimal alignment between business needs and operational and supply chain delivery."

"I am also delighted to welcome Werner Fuhrmann back to head up Specialty Chemicals and lead on the separation. His unique knowledge of the company and industry experience, having worked for almost 40 years at AkzoNobel, including running the Specialty Chemicals Business prior to my joining last year, make him an ideal person to lead the separation. It's great to have him back on board."

The Supervisory Board has designated Mr Vanlancker as CEO/Chairman of the Board of Management, with full power and authority as a member of the Board of Management, in accordance with the articles of association of Akzo Nobel N.V. which provides for such designation until formal CEO appointment by shareholders.

- - -

About AkzoNobel AkzoNobel creates everyday essentials to make people's lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential color to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as a leader in sustainability, we are dedicated to energizing cities and communities while creating a protected, colorful world where life is improved by what we do.

Not for publication - for more information
AkzoNobel Media Relations AkzoNobel Investor Relations
T: +31 (0)88 969 7833 T +31 (0)88 969 7590
Contact: Diana Abrahams Contact: Lloyd Midwinter

                                                                                               

Safe Harbor StatementThis press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website: www.akzonobel.com.

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/224ff3ef-4713-47b3-a369-dd3ff038e8b6