10.18.17
AkzoNobel on Wednesday announced a Nov. 30 Extraordinary General Meeting, where, amongst other things, the Supervisory Board will vote for new members to fill a vacancy.
Also on Wednesday, the company announced that Michiel Jaski has been nominated. Back in August, Sue Clark and Patrick Thomas received nominations.
"I am very pleased we have nominated Michiel Jaski who brings with him a wealth of knowledge and insights which will benefit the composition of our Board moving forward," said Chairman of the Board Antony Burgmans.
AkzoNobel shareholder Universities Superannuation Scheme Limited ("USS") on July 24 nominated Eric Meurice. However, Akzonobel said it doesn't support the proposal due to feedback received from an independent search firm during the process.
At the EGM, Supervisory Board members will vote to appoint Thomas or Meurice.
The opening stems from the resignation of Sari Baldauf, a member since 2012, who decided to step down effective Dec. 1, 2017, "due to time requirements for fulfilling other roles and responsibilities," according to AkzoNobel.
As per AkzoNobel's articles of association, Thomas can be appointed by a simple majority of the votes cast. Meurice, as a nominee of USS, requires at least a two-thirds majority of the votes cast, if such a majority represents more than half the issued share capital, the company said.
Also on Wednesday, the company announced that Michiel Jaski has been nominated. Back in August, Sue Clark and Patrick Thomas received nominations.
"I am very pleased we have nominated Michiel Jaski who brings with him a wealth of knowledge and insights which will benefit the composition of our Board moving forward," said Chairman of the Board Antony Burgmans.
AkzoNobel shareholder Universities Superannuation Scheme Limited ("USS") on July 24 nominated Eric Meurice. However, Akzonobel said it doesn't support the proposal due to feedback received from an independent search firm during the process.
At the EGM, Supervisory Board members will vote to appoint Thomas or Meurice.
The opening stems from the resignation of Sari Baldauf, a member since 2012, who decided to step down effective Dec. 1, 2017, "due to time requirements for fulfilling other roles and responsibilities," according to AkzoNobel.
As per AkzoNobel's articles of association, Thomas can be appointed by a simple majority of the votes cast. Meurice, as a nominee of USS, requires at least a two-thirds majority of the votes cast, if such a majority represents more than half the issued share capital, the company said.
