Akzo Nobel CEO To Step Down Next Year

Coatings and chemicals company Akzo Nobel NV (AKZA.AE) said Friday that Chief Executive Hans Wijers will step down in April next year, to be replaced by Ton Buechner, who is currently CEO of Swiss industrial machinery company Sulzer AG (SUN.EB).

Wijers, 60, joined Akzo Nobel's board in October 2002 and took the helm of the Amsterdam-based company in May 2003. He wasn't immediately available to comment on why he decided to leave Akzo Nobel.

Wijers led the company thorugh several strategic moves, such as improving the pipeline of its pharma business, focussing on the chemicals businesses and successfully growing coatings. Akzo Nobel also divested its pharmaceuticals operations and acquired U.K. chemicals and paint maker ICI.

"The transformation of the company from a diverse conglomerate in 2003 to a focused, global market leader in coatings, specialty chemicals and sustainability is due, in large part, to his vision and drive", Akzo Nobel's Chairman Karel Vuursteen said in a written statement.

Buechner, a 45-year-old Dutch national, will join Akzo Nobel in January and take the helm after the annual general meeting in April, subject to shareholder approval.

Buechner joined Sulzer--which specializes in the manufacturing of industrial machinery and equipment, surfacing technology and rotating equipment maintenance--17 years ago. He could not immediately be reached for comment.

"We are fortunate to have secured Ton Buechner as our new CEO. His proven strategic experience leading a public company, and his expertise in the global industrial arena make him the ideal candidate for this role," said Akzo Nobel's Vuursteen in a statement.

Akzo Nobel shares closed Thursday at EUR48.48.

-By Archibald Preuschat, Dow Jones Newswires; [phone]; [e-mail]