AkzoNobel Extends CFO Tenure Ahead of Axalta Merger

CFO Tenure Extension

Maarten de Vries, AkzoNobel's CFO, has agreed to extend his tenure by one year. Initially planning to retire at the end of his second four-year term in April, de Vries will now remain to support the proposed merger with Axalta.

Change in CFO Appointment

Fredrik Westin, who was set to become AkzoNobel's new CFO on January 1, 2026, will no longer join the company. AkzoNobel appreciates Westin's understanding of the situation as the company focuses on the merger.

Merger Timeline

The merger with Axalta is expected to close between late 2026 and early 2027. The extension of de Vries' term as a member of the Board of Management will be proposed for shareholder approval at the April 2026 AGM.

Leadership of Merged Entity

Upon completion of the merger, the CEO of the combined company will be from AkzoNobel, while the CFO will be from Axalta. This leadership structure has been previously announced as part of the merger plans.