Elliott Advisors launches fresh attack on Dutch paint maker over newly appointed chief executive Thierry Vanlancker, claiming it raises “significant legal and reputational risks”.
Photo: Akzo Nobel
AkzoNobel, the makers of Dulux paint, has come under attack once again from hedge fund Elliott Advisors with claims that the position of the company's newly appointed chief executive is "untenable".
In a statement issued this week, Elliott says the appointment of CEO Thierry Vanlancker raised “significant legal and reputational risks”.
This year has seen a long-running dispute between the Dutch paint maker and Elliott. In April the hedge fund failed in a legal challenge in Holland's Enterprise Chamber to unseat the company's chairman Antony Burgmans after a takeover bid by US competitor PPG was rebuffed by the Akzo board for a thi
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