Akzo Nobel appoints Poux-Guillaume as CEO

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Cans of Dulux paint, an Akzo Nobel brand, are seen on the shelves of a hardware store near Manchester, Britain April 24, 2017. REUTERS/Phil Noble/File Photo

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June 28 (Reuters) – Paint maker Dulux Akzo Nobel (AKZO.AS) has appointed French businessman Grégoire Poux-Guillaume as chief executive, effective November 1.

Poux-Guillaume, 52, will succeed Thierry Vanlancker at the end of his term, the Dutch company said, if shareholders approve the move in a general vote in September.

He previously ran Swiss manufacturing company Sulzer (SUN.S) and was a senior executive at private equity firm CVC Capital Partners.

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“We are grateful for Thierry’s leadership,” watchdog chairman Nils Smedegaard Andersen said in a statement.

During this period, Akzo Nobel spun off from the specialty chemicals business to become a focused and competitive paints and coatings business, he added.

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

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

($1 = 0.9455 euros)

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Reporting by Sarah Morland; Editing by Clarence Fernandez

Our standards: The Thomson Reuters Trust Principles.

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