AkzoNobel Names Andersen New Board Chair
Coatings giant AkzoNobel (Amsterdam) announced earlier this week the nomination of Nils Smedegaard Andersen as a member of the Supervisory Board, with the intention to elect him as Chairman, granted his appointment at the April Annual General Meeting is successful.
According to AkzoNobel, Andersen is the Non-Executive Director at BP and Unilever, where he serves on both companies’ audit committees. Previously, Andersen had also served as Group Chief Executive of A.P. Møller – Maersk from 2007 until 2016. Earlier in his career, he also acted as President and Chief Executive Officer of Carlsberg and Carlsberg Breweries.
“We are very pleased to nominate Nils Andersen,” said Byron Grote, Deputy Chairman. “He has a wealth of relevant experience gained during an extensive international career in the consumer goods, energy and shipping industries. Nils will bring this broad business insight to the Supervisory Board as AkzoNobel becomes a focused, high-performing Paints and Coatings company.”
The announcement arrived at the end of an extensive selection process spearheaded by the Supervisory Board, led by Grote and including consultation with major shareholders. Andersen’s appointment to the Supervisory Board is subject to shareholder approval, and will be on the agenda for the Annual General Meeting, to be held April 26.
Andersen added: “I am excited to be nominated for the role of Chairman of the Supervisory Board and look forward to being able to play my part in the transformation of AkzoNobel and delivering further value creation for shareholders and other stakeholders.”
If confirmed, Andersen will take the place of Antony Burgmans, the current Supervisory Board Chair, who is in his final year on the board. Burgmans played a controversial role in last year's merger talks with Pittsburgh-based PPG; at one point, an activist hedge fund that was in favor of the deal sought to remove him as chair.