(Reuters) -Dulux paint maker Akzo Nobel said on Thursday it had appointed Fredrik Westin as its chief financial officer from January 1, 2026.
Westin will succeed Maarten de Vries, who is completing his second four-year term as finance chief and will retire from Akzo Nobel in April next year.
Westin has been CFO at Autoliv, the world’s biggest maker of airbags and seatbelts, since 2020. He has more than 25 years of international experience in the industrial and automotive sector, Akzo Nobel said.
Akzo Nobel has significantly cut debt after selling its Indian business, but free cash flow remains below expectations due to high working capital and restructuring costs, analysts at Jefferies said in a note.
“This suggests Westin still has a significant headroom to improve cash conversion (and therefore shareholder returns) across the business,” the analysts added.
(Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak and Matt Scuffham)