Industry News

Akzo Nobel's Supervisory Board Changes Announced

Published on 2006-02-16. Author : SpecialChem

Akzo Nobel is to propose a number of changes to its Supervisory Board at the Annual General Meeting of Shareholders being held in April.

As previously announced, Aarnout Loudon will resign from the Supervisory Board as of May 1, having been its Chairman since 1995. His departure brings to an end a long and distinguished career with Akzo Nobel and the company wishes to express its gratitude and appreciation for his invaluable contribution.

He will be succeeded as Supervisory Board Chairman by Maarten van den Bergh, who is currently Deputy Chairman, as well as being Chairman of Lloyds TSB Group plc and a non-executive Director of Royal Dutch Shell plc, BT Group and British Airways.

Karel Vuursteen will take over the position of Deputy Chairman. A former CEO of Heineken, Vuursteen is also a member of the Supervisory Boards of, among others, ING Group and AB Electrolux.

It will be proposed at the AGM on April 25 that Antony Burgmans - Chairman of Unilever N.V. and Unilever plc - and Louis R. Hughes - the Chief Executive Officer of GBS Laboratories - be appointed to Akzo Nobel's Supervisory Board for a four-year term, as from May 1.

"We are looking forward to Antony Burgmans and Louis R. Hughes becoming valued members of Akzo Nobel's Supervisory Board," said Chairman-elect, Maarten van den Bergh. "Both have a wealth of professional experience and will bring strong business acumen to our organization."

Born in the Netherlands, Burgmans is also a member of the Supervisory Board of ABN AMRO Bank, member of the International Advisory Board of Allianz AG and a non-executive director of BP plc.

A graduate of Harvard University, Hughes is a former Executive Vice-President of General Motors Corp. (USA) and ex-President and CEO of Lockheed Martin. He also worked for the U.S. Department of State in Afghanistan and was CEO of Adam Opel AG.

In accordance with the rotation schedule, Karel Vuursteen and Alain Mérieux will step down from the Supervisory Board at April's Annual General Meeting of Shareholders. Both will be proposed for reappointment for another term.

Source: Akzo Nobel

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