(Reuters) -Akzo Nobel, which makes Dulux paint, has named Gregoire Poux-Guillaume, a French businessman, as its new CEO as of November 1.
The Dutch company said that Thierry Vanlancker will be replaced by 52-year-old Poux-Guillaume when his term ends if shareholders vote in September to approve the change.
He used to run the Swiss manufacturing company Sulzer and was a top manager at the private equity firm CVC Capital Partners.
“We’re thankful for Thierry’s leadership,” said Nils Smedegaard Andersen, who is in charge of overseeing the company.
During this time, Akzo Nobel split off its specialty chemicals business to become a more focused and competitive paint and coatings company, he said.
Vanlancker was appointed in 2017, not long after Akzo Nobel turned down a $28 billion takeover bid from PPG Industries (NYSE: PPG).
The next year, it sold its specialty chemicals division for 10 billion euros and gave the money to its shareholders.
($1=0.9455 euros)
