Akzonobel’s chief executive steps down for health reasons

THE chief executive of Akzonobel, the owner of Dulux, has stepped down due to health reasons just weeks after leading the company to victory in a protracted takeover battle with PPG Industries, its US rival.

Ton Büchner said it was an “extraordinarily difficult decision to make”, as the company said that he would be replaced by Thierry Vanlancker, head of its speciality chemicals division.

Akzonobel did not specify Mr Büchner’s health issues but said the 52-yearold, who joined the company in 2012, would leave his position immediately.

“It was a privilege to work for Akzonobel and I am extremely proud of all the achievements the team delivered during my five years at the company,” he said. “For me this was an extraordinarily difficult decision to make but my focus must now be on my health.”

Mr Büchner took a leave of absence from Akzonobel in 2012, less than six months after joining, due to fatigue.

He told The Daily Telegraph earlier this year: “I was physically ill from lots of travelling and there were a number of things that no one really knew what it was. I focused on my health.

“I came back after eight or 10 weeks and I have never been ill or spoken about it since then. From that perspective, it was the right thing to do.”

Antony Burgmans, chairman of Akzonobel, spoke of his “great regret” at Mr Büchner’s departure.

“He has been an outstanding leader for Akzo, transforming the company and setting it up for future success,” said Mr Burgmans.

“His passion for the business and personal commitment has helped create a strong culture across the company. He will be greatly missed in the boardroom and by many colleagues of Akzonobel around the world.

“I wish Ton well and hope he is now able to fully focus on his own health.”