Dulux parent firm, Akzo Nobel has announced today that chief executive Ton Büchner has stepped down with immediate effect due to health reasons and will be replaced by Thierry Vanlancker.

Mr Büchner joined Akzo Nobel in 2012 and has been responsible for significantly improving the performance of the company, increasing profitability and cash flow to record levels.

The statement credited him for putting in place a solid operational and financial foundation, that enabled Akzo to recently announce the creation of two focused high-performing businesses; paints and coatings and specialty chemicals.

Mr Büchner’s successor, Thierry Vanlancker was most recently head of specialty chemicals at Akzo Nobel, having joined the company in 2016. Mr Vanlancker is a Belgian national, who prior to joining Akzo Nobel, was president of Fluoroproducts for Chemours, the spin-off company of Dupont's chemical businesses formed in 2015.

Akzo Nobel supervisory board chairman Antony Burgmans said of Mr Büchner’s departure: “It is with great regret that Ton is stepping down due to health reasons. He has been an outstanding leader for Akzo Nobel, transforming the company and setting it up for future success. His focus on delivering for our customers and operational excellence has driven profitability to record levels, increasing returns to shareholders.

“'His passion for the business and personal commitment has helped create a strong culture across the company. He will be greatly missed in the boardroom and by many colleagues of Akzo Nobel around the world. I wish Ton well and hope he is now able to focus fully on his own health.”

He continued: “In Thierry Vanlancker we have an outstanding executive who is well placed to continue building momentum for the company. This includes the creation of two focused businesses, delivering sustainable growth and profitability.  

'”His extensive experience in the chemicals and coatings industry gives him a unique perspective and I look forward to continuing to work with him in his new role as CEO."

Ton Büchner added: “It was a privilege to work for Akzo Nobel and I am extremely proud of all the achievements the team delivered during my five years at the company. Akzo Nobel is full of highly engaged, talented and passionate people who deliver every day for our customers and I want to thank all of them for their contribution and support over the years…

He concluded: “For me this was an extraordinarily difficult decision to make but my focus must now be on my health.” 

Thierry Vanlancker joined DuPont in 1988 and held a number of senior positions both in Europe and the US, including vice-president performance coatings and business manager of refinish systems across Europe, Middle East and Africa.

A successor for the head of Akzo’s specialty chemicals division will be announced in due course.