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GlobeNewswire·

AkzoNobel and Axalta enhance governance arrangements following shareholder dialogue

AXTA
  • AkzoNobel & Axalta announced enhancements to governance arrangements for their pending merger of equals following extensive stakeholder engagement.
  • All Directors will now face annual re-election after the initial three-year period post-completion, replacing the previously contemplated five-year period.
  • The approval threshold for key decisions during the first three years after completion has been lowered to two-thirds of Non-Executive Directors from the previously proposed 75%.
  • The new two-thirds threshold applies to proposals regarding director appointment/dismissal, CEO/Deputy CEO/CFO appointment/removal, Chair/Vice Chair designation, & remuneration policy amendments.
  • These governance changes do not require amendments to the proposed Articles of Association.
  • The scheduled AkzoNobel EGM & Axalta SGM on August 5, 2026, will proceed with existing agenda items unaffected.
  • AkzoNobel & Axalta confirmed that the governance refinements reflect shareholder feedback aimed at strengthening corporate governance & Board oversight.