Akzo Nobel CEO outlines new strategy and targets at company's Fit For the Future conference

20-Oct-2006

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Akzo Nobel has announced strategic plans designed to accelerate profitable growth and drive the company's ongoing commitment to establishing leadership positions in key coatings and chemicals markets around the world. Speaking to investors, analysts and the media at the company's Fit For the Future conference in London, CEO Hans Wijers unveiled the company's growth strategy and new targets for the next three years.

"We have developed a comprehensive, highly focused strategy for our Coatings/Chemicals activities which will launch Akzo Nobel into an exciting new era," said Wijers. "We have successfully turned around a number of underperforming businesses and implemented several highly successful restructuring programs and the company is now ready to accelerate growth across the portfolio." He added that dedication and skilful management had been vital in steering the company into the current position of financial strength.

Commenting on the company's growth strategy, Wijers said that having created room to maneuver, Akzo Nobel can now take full advantage, with innovations, acquisitions and greenfield investments being three of the key drivers for top-line growth.

Outlining the new targets, Wijers explained that over the next three years, Akzo Nobel intends to outpace growth in its chosen markets and is also aiming for an operational ROI (return on capital) of more than 20 percent, as well as maintaining its A- rating. Further reducing the cost base in mature markets by EUR 100 million is an important element of this strategy.

https://www.chemeurope.com/en/news/58822/akzo-nobel-ceo-outlines-new-strategy-and-targets-at-company-s-fit-for-the-future-conference.html