Akzo Nobel's New Chief Has No Plans To Split Up Firm - Report

Date : 05/04/2012 @ 2:26AM
Source : Dow Jones News
Stock : Akzo Nobel (AKZA)
Quote : 78.26  0.0 (0.00%) @ 2:15AM
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Akzo Nobel's New Chief Has No Plans To Split Up Firm - Report

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The new chief executive of Dutch coatings and specialty chemicals maker Akzo Nobel NV (AKZA.AE) has no plans to split up the company, he said in an interview with daily Het Financieele Dagblad on Friday.

The report said analysts and investors have suggested that Ton Buechner, who took the helm at Akzo Nobel on April 23, may reassess the current combination of a coatings and specialty-chemicals business.

But in his first interview as Akzo Nobel CEO, Buechner said he is happy with both units. "For me there is no reason to shake that up," he said. "It is a portfolio with very good and strong positions in markets, both in coatings and in specialty chemicals."

Buechner, who joined Akzo Nobel after 18 years at Swiss industrial conglomerate Sulzer AG (SUN.EB), expects to present a strategy update in October, the report said. "There are still a lot of things that we can do more beautifully and better," Buechner said.

Newspaper Web site: http://www.fd.nl

-By Amsterdam Bureau, Dow Jones Newswires; 31-20-5715-200

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