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Supervisory Board activities

[...] Area analyses, and the decision to separate Specialty Chemicals and create two high performing businesses. The company renewed its efforts to achieve functional excellence and efficiencies by implementing a transformation program, pursuant to which a new management structure was announced. In addition, functional and operational strategy updates were reviewed and discussed, including from Information Management, Integrated Supply Chain, Human Resources and Sustainability. At corporate level, the Supervisory Board received comprehensive market updates, approved the financial guidance for 2020 for Paints and Coatings in April and reviewed and approved the company’s [...]

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Supervisory Board

[...] Board ensures that regular updates are provided to the Supervisory Board on the company’s businesses, sustainability, legal matters, social and corporate governance, accounting, investor relations, compliance, risk management and internal controls. The Supervisory Board is governed by its Rules of Procedure (available on the corporate website). The Rules of Procedure include the profile and the Charters of the Committees and set out the tasks and responsibilities of the Supervisory Board, as well as its operational processes. Composition The list of Supervisory Board members, including their biographies, can be found in the Leadership section. In compliance with [...]

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Note 7: Operational eco-efficiency

[...] the washing process. Performance Coatings continued its global material efficiency program for all businesses, focusing on yield improvement in production. A wide variety of smaller projects (more than 200) has resulted in savings of €10 million. Specialty Chemicals converted some of its waste streams into valuable by-products, in line with the concept of the circular economy. Raw material flow in kilotons Waste Effective waste management helps to increase raw material efficiency in our manufacturing operations, while reducing both our environmental footprint and costs. AkzoNobel has moved the focus from managing and reducing total “end of pipe” waste to also [...]

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Our strategy

In 2017, we announced the decision to create two focused, high performing companies – Paints and Coatings, and Specialty Chemicals – with separation due to take place by April 2018. Pursuing this strategy will drive a step-change in growth and value creation and enable both businesses to become more agile, while accelerating profitability. Increased financial guidance was also announced for the two new businesses. 1 Excluding unallocated corporate center costs; assumes no significant market disruption 2 Excluding unallocated corporate center costs and invested capital; assumes no significant market disruption 3 Specialty Chemicals separation 4 Based on reported [...]

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AkzoNobel on the capital markets

[...] Chemicals. A strong case for investment With well-established global brands and a portfolio of businesses holding leadership positions in many markets, we offer a strong case for investment. Close dialog with the capital markets During the year, AkzoNobel was subject to three bids for a takeover by PPG, who subsequently withdrew their offer on June 1, 2017. In April, the company presented an investor update, which included 2020 guidance and details of a new strategy to accelerate growth and value creation by creating two focused businesses. Following shareholder approval for the separation of Specialty Chemicals, the company is on track for the completion of this [...]

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Screening and monitoring

We use several processes and tools to screen employees, business partners, activities and acquisition targets, supported by technology where possible. In 2016, we introduced an export control and sanctions screening tool across our businesses. This alerts us in the event of potentially sanctioned parties, sanctioned use or export license requirements. Use of this tool was expanded in 2017. We also introduced a business partner screening process and tool in 2017. This requires high risk business partners – including key suppliers, parties in sanctioned countries, agents and toll manufacturers – to be screened for past violations and misconduct. Using the same [...]

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Accountability

The Executive Committee has responsibility for incorporating the sustainability agenda in the company strategy and monitoring the performance of each business through the Operational Control Cycle. Accountability for delivery lies with the leaders of the businesses and functions and their management teams. Significant sustainability aspects material to the company are reviewed annually, with input from internal and external stakeholders (see Managing sustainability). We use key indicators to track our progress in delivering on the sustainable business imperatives. The Resource Efficiency Index (Note 4) demonstrates how AkzoNobel is delivering more from less, [...]

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Note 6: Carbon positive

[...] COP21 carbon reduction targets, carbon pricing enables sustainability leaders to de-risk their businesses. In 2017, we included carbon pricing in seven major appropriation requests submitted to the Executive Committee. Avoided emissions To support our growth agenda, we focus on creating positive value for our customers. We develop and sell solutions that help customers avoid energy use and carbon emissions, such as Dulux Trade Plus products, as described in the Introduction to this section. Using the avoided emissions guidelines we developed together with the International Council of Chemical Associations and the World Business Council for Sustainable Development, [...]

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Paints and Coatings

Ruud and David pictured with senior management from the Paints and Coatings businesses. During 2017, we introduced a new organizational set-up for Paints and Coatings in preparation for AkzoNobel’s future as a focused paints and coatings company. Ruud Joosten (pictured right) became Chief Operating Officer, while David Allen (left) was appointed Chief Supply Chain Officer. Part of a major strategic restructuring, David is now responsible for making our paints and coatings, while Ruud is responsible for marketing and selling them. Here, they reflect on the year’s events. Things are rarely dull when you are part of a rapidly consolidating global industry sector [...]

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Case studies

[...] these activities serves as the foundation for color innovation and inspiration across all our businesses. They work together with our Global Aesthetic Center in the Netherlands and a group of international specialists to identify societal trends and consumer behaviors. The aim is to better understand our global society and what we need from our environment. These trends are then translated into the colors that help shape our lives. Our color design teams take this research a step further when determining what’s needed for the next generation of phones, cars, buildings and consumer appliances. We know that when our customers paint or coat something, they care [...]

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