Supervisory Board changes announced
Arnhem, the Netherlands, October 17, 2005 - Following a long and distinguished career, former CEO of Akzo Nobel Aarnout Loudon has announced that he will not be eligible for re-appointment as a member of the Company’s Supervisory Board as of May 1, 2006, when his current term ends. He will be succeeded as Chairman of the Supervisory Board by the current Deputy Chairman, Maarten van den Bergh.
First employed by Akzo NV in 1969, Mr. Loudon became Chairman of the Board of Management in 1982, a position he held for 12 years until his retirement in 1994. He has been Chairman of the Supervisory Board of Akzo Nobel NV since 1995. CEO during some of the most significant developments in the Company’s recent history, he guided Akzo through its merger with Nobel and laid the foundations for the significant growth which followed. “I would like to extend the appreciation of the whole Board of Management to Mr Loudon for all his sterling efforts during his highly successful 36 years with us,” said CEO Hans Wijers. “He helped mould Akzo Nobel into the global force that it is today and should be very proud of the pivotal role he has played in the Company’s success.” Mr Loudon’s successor, Maarten van den Bergh, is Chairman of Lloyds TSB Group and a non-executive director of Royal Dutch Shell plc. Born in New York in 1942 but now resident in the UK, he is also a non-executive board member of British Airways plc and British Telecom plc. He joined Akzo Nobel’s Supervisory Board in 2005. It has also been announced that after a combined term of nine years, Lars Thunell will step down from his position as a member of Akzo Nobel’s Supervisory Board as of December 31, 2005. The decision follows his recent nomination as Executive Vice President of the International Finance Corporation (IFC) and member of the Group Management of the World Bank. On behalf of the Company, Mr. Loudon expressed sincere thanks and gratitude for the valuable contribution Mr. Thunell has made to Akzo Nobel. ---