AkzoNobel and Axalta name three directors for combined company board

AkzoNobel and Axalta Coating Systems have confirmed that Stephan B. Tanda, Denise C. Johnson and Robert Schuchna have agreed to serve as non-executive directors of the combined company following completion of their pending merger of equals.

The news follows the two firms’ agreement to merge, creating a coatings company valued at around $25bn.

Rakesh Sachdev, chair of the Axalta board of directors, who will serve as chair of the combined company board, states: “Stephan and Denise each bring significant senior executive experience driving growth at a variety of industrial businesses, and Robert’s deep investment background will reinforce the board’s focus on long-term value creation. Together, their expertise will further strengthen the board and enhance its oversight of the combined company’s strategic priorities.”

Ben Noteboom, chairman of the supervisory board of AkzoNobel, who will serve as vice-chair of the combined company board, says: “With the board now fully assembled, we are confident the combined company is well positioned to realise the full potential of the merger by accelerating innovation, strengthening customer relationships and delivering sustainable growth.”

Once the merger is completed, the combined company board will comprise Rakesh Sachdev (chair), Ben Noteboom (vice-chair), Greg Poux-Guillaume (CEO), Chris Villavarayan (deputy CEO), Jaska de Bakker, Jan Bertsch, Denise Johnson, Wouter Kolk, Robert Schuchna, Kevin Stein and Stephan Tanda.

Denise Johnson brings industrial sector experience

Johnson is currently a group president of Caterpillar, where she is responsible for Resource Industries (RI), covering mining, heavy construction, quarry and aggregates products, services and technology. She also serves as a director of ABB, a technology company focused on electrification and automation.

Robert Schuchna continues on AkzoNobel board

Schuchna is a partner at Cevian Capital, an active ownership fund focused on public companies in Europe. His work has included investments across the chemicals, consumer goods, industrials and pharma sectors, covering activities from initial due diligence through the development and implementation of value-enhancement plans.

Schuchna currently serves on the AkzoNobel supervisory board and the board of directors of Rexel. He holds a master’s degree in banking and finance from the University of Zurich.

Stephan Tanda to step down from AptarGroup

Tanda currently serves as president and CEO of AptarGroup. The company has announced his retirement as CEO on 1 September 2026. During his tenure at AptarGroup, he drove a change in the company’s strategy from a consumer-focused packaging manufacturer towards drug delivery and active material sciences.

The appointments of the three additional non-executive directors are expected to be put forward for shareholder approval at an Extraordinary General Meeting later this year.