AkzoNobel's Supervisory Board received an update on the progress of CEO Ton Büchner's recovery. Following a Supervisory Board meeting, the company reported that medical specialists expect the CEO to fully recover and that it is anticipated that he will return to work sometime around year-end.
"We are pleased to report that the current treatment is effective and progress is being made. However, it is important that the full cycle of treatment is completed and a premature commencement of activities is avoided," said Karel Vuursteen, chairman of the Supervisory Board. "We are glad that Ton is progressing and we look forward to welcoming him back to the company later this year. In the meantime, we have appropriate governance in place."
The company's temporary arrangements to accommodate Ton's absence will remain in place. CFO Keith Nichols will continue to be the first point of contact and coordinator for the Executive Committee, while Antony Burgmans, member of the Supervisory Board, will remain on hand to offer advice and support to Keith and the Executive Committee.