L.
Paul Bremer Accepts Appointment by President Bush
Akzo
Nobel N.V. announced today that Mr. L. Paul Bremer III has
resigned his position as a member of Akzo Nobel's Supervisory
Board, following his acceptance of a high U.S. government
position.
Paul
Bremer has been appointed by President Bush to be his Envoy
to Iraq, heading the U.S. -led Office of Reconstruction
and Humanitarian Assistance (ORHA). Because of U.S. conflict
of interest rules, this means that he had to resign all
his Board positions.
Aarnout
Loudon, Chairman of Akzo Nobel's Supervisory Board said
he is "very sorry to see Paul Bremer go," but
accepted the resignation as he agreed "the new position
to which Paul Bremer has been called by President Bush makes
this unavoidable." He expressed his thanks and gratitude
for the valuable contribution Mr. Bremer has made to Akzo
Nobel.
Paul
Bremer has served Akzo Nobel's Supervisory Board since 1997,
and has also been a member of the Nomination and Remuneration
Committee since October 2002.
Akzo
Nobel, based in the Netherlands, serves customers throughout
the world with healthcare products, coatings and chemicals.
Consolidated sales for 2002 totaled EUR 14 billion. The
Company currently employs approximately 67,500 people in
more than 80 countries. Financial results for the second
quarter will be published on July 18, 2003.
Arnhem,
the Netherlands, May 13, 2003