AkzoNobel announces new strategy and financial targets

AkzoNobel has announced a new strategy that will build on its leading market positions in mature and high-growth markets to achieve new financial targets. The strategy focuses on end-user segments, operational excellence and sustainability and is summarised by the company’s new vision: Leading market positions delivering leading performance.

CEO Ton Büchner explained: "AkzoNobel has leading market positions and brands in paints, coatings and speciality chemicals. With our global scale and sustainability leadership, we will focus our strategy on customer service and operational excellence, creating value for all our stakeholders."

Strategic focus areas include: care for the customer, reduction of product and process complexity, cash and return on investment, embedded safety and sustainability, and diverse and inclusive talent development.

New financial targets are to be achieved by the end of 2015

Acceleration of performance improvement programme: full €500M EBITDA benefit to be delivered one year early, in 2013

Focus on four end-user segments: Buildings and Infrastructure, Transportation, Industrial and Consumer Goods – increasing insight into leading indicators, making the company more responsive to market conditions

Smaller executive leadership team; remuneration aligned with targets.