Amsterdam, the Netherlands, December 21, 2007 - Akzo Nobel has finalized plans for the new structure of the company ahead of its acquisition of Imperial Chemical Industries (ICI), which is scheduled for completion on January 2, 2008. All the relevant management appointments have also been concluded as preparations for the next phase in the ongoing strategic transformation continue to gather pace.
The integrated organization will operate in three business areas - Decorative Paints, Performance Coatings and Specialty Chemicals. Under this more focused structure, ICI's retained Specialty Polymers and Regional and Industrial activities will move to Akzo Nobel Specialty Chemicals, while ICI's Packaging Coatings operation will join Akzo Nobel's Performance Coatings portfolio. ICI's deco activities will be part of the new Akzo Nobel Decorative Paints organization, which will consist of seven businesses.
"Following the recent announcement of our proposed Board appointments, we have now finalized the establishment of a company structure and management team designed to launch the enlarged Akzo Nobel into an exciting new era," said CEO Hans Wijers. "We have in place the organization, the people, the technology and the products to move forward and continue to grow, confident that we will carry on delivering great service to our customers and profitable returns for our shareholders."
The new structure of Akzo Nobel will be as follows:
The Decorative Paints business: Decorative Paints Continental Europe; Decorative Paints Northern & Eastern Europe; Decorative Paints UK, Northern Ireland and South Africa; Decorative Paints Asia; Decorative Paints America; Decorative Paints Canada; Decorative Paints Latin America.
The Performance Coatings business: Car Refinishes; Marine & Protective Coatings; Powder Coatings; Industrial Finishes; Packaging Coatings.
The Specialty Chemicals business: Base Chemicals; Functional Chemicals; Polymer Chemicals; Pulp & Paper Chemicals; Surfactants; Specialty Polymers; Regional & Industrial activities.
In order to drive the continuing transformation of the company, several key appointments have been made, notably within the leadership structure of the Decorative Paints business. These appointments are as follows:
Decorative Paints Continental Europe: Managed by Antoine Fady (formerly responsible within ICI for Decorative Paints in Continental Europe and Packaging Coatings). He will also continue to manage Packaging Coatings on an ad interim basis.
Decorative Paints Northern & Eastern Europe: Managed by Ruud Joosten (formerly responsible within Akzo Nobel for Decorative Coatings in Northern Europe).
Decorative Paints UK, Northern Ireland and South Africa: Managed by Richard Stuckes (formerly held the same responsibilities within ICI).
Decorative Paints Asia: Managed by Ken Ng (formerly responsible within ICI for Decorative Paints in China).
Decorative Paints United States: Managed by Erik Bouts (recently responsible within ICI as the interim manager for the retail business in Decorative Paints North America).
Decorative Paints Canada: Managed by Pierre Dufresne (formerly responsible within Akzo Nobel for Decorative Coatings Americas).
Decorative Paints Latin America: Managed by Marcos Saveedra (formerly held the same responsibilities within ICI).
Furthermore, it has also been confirmed that the Decorative Paints management team will be supported by the following:
Kerris Bright: Chief Marketing Officer (formerly Chief Marketing Officer for ICI Paints).
Tony Britt: Integration Officer (formerly manager of Akzo Nobel Decorative Coatings Europe Central).
Peter Gommers: Strategy and Business Development (formerly responsible for Marketing and Strategy in Akzo Nobel Decorative Coatings).
Sander Gunst: Controller (formerly Controller for Akzo Nobel Decorative Coatings).
Silke Heitmann: Human Resources Manager (formerly HR manager for Akzo Nobel Decorative Coatings).
Other appointments to support the Decorative Paints management team will be announced at a later date.
In addition to the above, Chas Eggert will be appointed to manage the Specialty Polymers business (he formerly held the same responsibilities within ICI).
The new structure and appointments will come into effect upon official completion of the deal, expected to take place on January 2, 2008.
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Note to editors
Akzo Nobel is a Fortune Global 500 company and is listed on the Euronext Amsterdam stock exchange. It is also the Chemicals industry leader on the Dow Jones Sustainability Indexes and is included on the FTSE4Good Index. Based in the Netherlands, we are a multicultural organization serving customers throughout the world with coatings and chemicals products. We employ around 43,000 people and conduct our activities in these two segments, with operating subsidiaries in more than 80 countries. Consolidated revenues for 2006 totaled EUR 10 billion. The financial results for the fourth quarter and full year will be published on March 6, 2008 (preliminary date).
Internet: www.akzonobel.com
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Contact: Tim van der Zanden
