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Akzo Nobel names Poux-Guillaume as new chief executive

Akzo Nobel suspends 2023 outlook, hit by destocking, high costs
Akzo Nobel suspends 2023 outlook, hit by destocking, high costs Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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-Dulux paint maker Akzo Nobel has named French businessman Gregoire Poux-Guillaume as its new chief executive, with effect from Nov. 1.

Poux-Guillaume, 52, will take over from incumbent Thierry Vanlancker when his term ends, the Dutch company said, if shareholders approve the move at a general vote in September.

He previously headed Swiss manufacturing firm Sulzer and was a senior executive at private equity firm CVC Capital Partners.

"We're grateful for Thierry's leadership," supervisory chairman Nils Smedegaard Andersen said in a statement.

The period saw Akzo Nobel split off the specialty chemicals business to become a focused and competitive paints and coatings company, he added.

Vanlancker took the role in 2017, shortly after Akzo Nobel fended off a 26-billion-euro ($28-billion) takeover bid by U.S. rival PPG Industries.

It sold its specialty chemicals division the following year for 10 billion euros, distributing the proceeds to shareholders.

($1=0.9455 euros)

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