Akzo Nobel transformation gathers pace as new structure is unveiled
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. 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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