Activist target Antony Burgmans to step down from AkzoNobel
July 26, 2017
AkzoNobel chairman Antony Burgmans, who faced calls to step down from activist investors, will leave his position next April, at the end of his third term in office. Backers led by Elliott Advisors had demanded an extraordinary general meeting to vote on his future after the company refused to engage in discussions regarding a potential takeover by PPG. Last week, Ton Büchner stood down as AkzoNobel CEO due to health reasons, and was replaced by specialty chemicals division head Thierry Vanlancker.