PHILADELPHIA, PA — AkzoNobel and Axalta Coating Systems have completed the planned board lineup for their pending merger of equals, naming three additional non-executive directors who will help oversee the combined coatings company after the transaction closes.
Stephan B. Tanda, Denise C. Johnson and Robert Schuchna have agreed to join the combined company’s board upon completion of the merger, the companies reported.
The appointments bring industrial operating and investment experience to the board as AkzoNobel (AKZA; AKZOY) and Axalta (AXTA) prepare their governance structure for the combination.
Rakesh Sachdev, currently chair of Axalta’s board, is set to become chair of the combined company. Ben Noteboom, chairman of AkzoNobel’s supervisory board, will serve as vice chair.
Sachdev described Tanda and Johnson as bringing “significant senior executive experience driving growth” at industrial businesses, while Schuchna’s investment background would reinforce the board’s focus on long-term value creation.
Schuchna already serves on AkzoNobel’s supervisory board, giving the combined board continuity from the Dutch coatings company’s existing governance structure.
“With the Board now fully assembled, we are confident the combined company is well positioned to realize the full potential of the merger,” Noteboom said.
The 11-member board will consist of Sachdev; Noteboom; Greg Poux-Guillaume, who will serve as chief executive officer; Chris Villavarayan, who will serve as deputy CEO; Jaska de Bakker; Jan Bertsch; Johnson; Wouter Kolk; Schuchna; Kevin Stein; and Tanda.
The appointments will take effect when the pending merger closes.
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