Akzo Nobel Shareholders Approve Dividend.Business/Medical Editors ARNHEM, The Netherlands--(BUSINESS WIRE)--April 24, 2002 Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. N.V. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AKZOY) shareholders today approved the 2001 dividend proposal from the Board of Management. Akzo Nobel will pay a dividend of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.20 (2000: EUR 1.20) per common share for the year 2001. Of this dividend, EUR 0.30 per share was already paid as an interim dividend last November. The final dividend will thus be EUR 0.90 per share. The result is a dividend payment of EUR 343 million, a payout ratio Payout Ratio The percentage of earnings paid out in dividends. It is calculated by dividing dividends per share by earnings per share. Notes: The payout ratio indicates how well earnings support the dividend payments: the lower the ratio, the more secure the dividend. of 37% relative to net income excluding extraordinary and nonrecurring items. This final dividend will be made payable from May 8, 2002. The Akzo Nobel shares will be traded ex final dividend on Euronext Amsterdam on April 26, 2002. Changes in the Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. At today's meeting, shareholders approved the proposal to raise membership of the Supervisory Board from nine to ten and the proposal that Alain Merieux (63), presently President of the bioMerieux Company, France, and Karel Vuursteen (60), presently Chairman of the Executive Board of Heineken N.V., will join the Supervisory Board effective May 1, 2002. L. Paul Bremer Lewis Paul Bremer III (born September 30 1941), known as Paul Bremer and also nicknamed Jerry Bremer, was named Director of Reconstruction and Humanitarian Assistance for post-war Iraq following the Iraq War of 2003, replacing Jay Garner on May 6 2003. , III (60) and Maarten C. van Veen (67), who stepped down from the Supervisory Board as their terms of office are expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. , were both reappointed. Lo C. van Wachem (70), who has served on the Supervisory Board for ten years, has stepped down, having reached retirement age. At the Meeting the Chairman of the Supervisory Board, Aarnout A. Loudon, expressed the Company's deep appreciation to Mr. Van Wachem for the outstanding manner in which he has served Akzo Nobel over the years. Changes in the Board of Management To ensure continuity in the Management of the Company, the shareholders at today's meeting approved several proposals for changes in the Board of Management. Toon (A.) Wilderbeek (52), currently General Manager of Akzo Nobel's veterinary veterinary /vet·er·i·nary/ (vet´er-i-nar?e) 1. pertaining to domestic animals and their diseases. 2. veterinarian. vet·er·i·nar·y adj. business unit Intervet was appointed as successor to Paul K. Brons (61) who will retire as of July 1, 2002. Hans (G.J.) Wijers (51), currently Senior Vice President of the Boston Consulting Group and Chairman of the Dutch Office, was appointed by the meeting to join the Board of Management on October 1, 2002; he will succeed Cees J.A. van Lede (59) as Chairman, effective May 1, 2003. Mr. Wijers will act as adviser to the Board of Management, starting July 1, 2002. During the meeting Mr. Loudon expressed the Company's great indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. to Mr. Brons for his thirty-seven years of excellent service to Akzo Nobel. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2001 totaled EUR 14 billion. The Company currently employs approximately 66,000 people in 80 countries. Financial results for the first quarter were published on April 23, 2002.
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