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Akzo Nobel CEO Ton Buechner to return

  • Associated Press
  • December 3, 2012 - 3:46 AM

AMSTERDAM - Akzo Nobel, the biggest maker of paints and coatings by sales, says its Chief Executive Ton Buechner will be returning to work next week after extended sick leave due to `medical fatigue.'

Buechner took the top job in April but went on leave by September, precipitating a sell-off in the company's shares that worsened after it was extended and investors puzzled over the meaning of the unusual absence. In October, the company reported a (EURO)2.4 billion ($3.1 billion) loss after taking a massive impairment charge on its home paints business, though sales rose.

In a statement, Buechner thanked members of the supervisory and executive boards for running the company while he was gone.

Buechner plans to take questions from analysts and the media in a phone conference Dec. 14.

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