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Akzo Nobel NV (NASDAQ:AKZOY) AkzoNobel today announced that Tex Gunning will join the company as Managing Director of its Decorative Paints business with effect from September 1, 2008. Former CEO and Chairman of the Board of Vedior and a former Unilever senior executive, Mr Gunning (57) will be nominated to join the AkzoNobel Board of Management as member responsible for Decorative Paints at the company's next AGM in April 2009, completing the AkzoNobel board picture.
A Dutch citizen, he joined Vedior NV in 2007, successfully completing its negotiated sale to Randstad in May of this year. Prior to that, Mr Gunning spent 25 years gaining invaluable experience in the management of consumer-facing businesses with Unilever, 15 of them in the fast-growing Asian and Australasian markets. During that time, he not only guided Unilever's Asian businesses to deliver consistent profitable growth, but also oversaw the regional integration with Best Foods.
"I am delighted that we have been able to secure the services of such an exceptionally experienced leader at this crucial time for our Decorative Paints business," said Akzo Nobel CEO Hans Wijers. "Tex's deep background in the management of consumer brands and businesses will enable us to build on the vast reservoir of expertise that we have brought together following the acquisition of ICI's paints businesses. His Asian knowledge will be invaluable as we strive to continue our strong growth in emerging markets and I am sure that his informal and direct style will be a significant contribution to all of us."
Added Mr Gunning: "I accepted Hans Wijers' offer to join AkzoNobel with great pleasure. The opportunity to help forge the future of the world's largest decorative paints company, building the organization and the people that will lead it, is a great personal challenge. I am also excited to be joining a company which understands the necessity of inter-connection with communities, and whose commitment to sustainability is self-evident. I hope I can continue the successful integration process and drive forward growth in a paints market which is full of potential."
Mr Gunning will succeed David Hamill, who will leave the company by the end of the year having played a major role in the process of combining the ICI and AkzoNobel paints businesses. The company would like to place on record its thanks to Mr Hamill for his valuable contribution.
---- Note to editors AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - pro forma 2007 revenue totaled €14.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).
Not for publication - for more information Akzo Nobel nv Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7856 Contact: Tim van der Zanden Contact: Dick Luijckx
