Akzo unveils CFO-in waiting

Akzo Nobel has put one of the architects of its ICI acquisition forward for
the CFO position.

The Dutch corporate said Keith Nichols, currently
Akzo’s senior vice
president for finance would take over from Rob Frohn as CFO from 1 May 2008 if
the change is endorsed.

Nichols played a key role in structuring, financing and executing the
acquisition of ICI.

He joined Akzo Nobel in December 2005 from Corus Group where he held the
position of Group Treasurer.

The change has been proposed partly to let current CFO Frohn go back to a
business role. Akzo said: ‘This change in responsibilities will allow Rob Frohn
to fulfill his ambition of returning to a business leadership role after
spending the last four transformational years as the CFO.’

The acquisition is due to be signed off on 2 Jan 2008. Key members of ICI’s
management, including CFO Alan Brown have agreed to stay on after that date to
‘ensure a smooth transition of the business and functions to Akzo.’

Further reading:

rival Akzo set to snap up ICI

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