AkzoNobel - 25 April 2019 AGM
In general, AkzoNobel is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 5a, it is proposed to newly appoint Ms. Jolanda Poots-Bijl as Member of the supervisory board. Although she would qualify as independent board member, ECGS has concerns over her aggregate time commitments. Ms. Poots-Bijl is currently already serving as CFO of Royal van Oord (substantial non-listed company) and non-executive director of PON Holdings N.V, Gasunie N.V and Blokker Holding N.V (all substantial nonlisted companies). Taking into account her proposed appointment at AkzoNobel (listed), the number of mandates held would exceed ECGS' guidelines. In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE.
There are no further peculiarities.
Akzo Nobel N.V. is a holding company. Through its subsidiaries, Co. is engaged in the production and marketing of paints, coatings and specialty chemicals. Co. has three segments: Decorative Paints, which supplies products for the professional and do-it-yourself markets, including paints, lacquers and varnishes, as well as products for surface preparation; Performance Coatings, which is divided into the following businesses: Automotive and Aerospace Coatings, Industrial Coatings, Marine and Protective Coatings, and Powder Coatings; and Specialty Chemicals, which are used in products such as ice cream, soups, disinfectants, plastics, soaps, detergents, cosmetics, paper and asphalt.
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