Finance
Akzo Nobel names Fredrik Westin as next CFO
Published by Global Banking & Finance Review®
Posted on July 3, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 3, 2025
1 min readLast updated: January 23, 2026
Akzo Nobel appoints Fredrik Westin as CFO from January 2026, succeeding Maarten de Vries. Westin, with over 25 years of experience, aims to improve cash conversion.
(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)
Fredrik Westin has been appointed as the new chief financial officer of Akzo Nobel, effective January 1, 2026.
Westin will succeed Maarten de Vries, who is retiring after completing his second four-year term as finance chief.
Prior to joining Akzo Nobel, Westin served as CFO at Autoliv, the world's largest manufacturer of airbags and seatbelts, since 2020.
Akzo Nobel has reduced its debt after selling its Indian business, but analysts indicate that free cash flow is below expectations due to high working capital and restructuring costs.
Analysts at Jefferies suggest that Westin has significant potential to improve cash conversion and shareholder returns across the business.
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