media release

Fritz Fröhlich Voted Europe's Top CFO

Akzo Nobel's Chief Financial Officer Fritz Fröhlich has been voted best CFO in the European chemical industry.

Fritz Fröhlich (61), Deputy Chairman of Akzo Nobel's Board of Management, has been voted best Chief Financial Officer (CFO) in the European chemical industry, in a poll conducted on behalf of the Reuters Institutional Investor Research Group.

For the poll, leading analysts in Europe were asked to assess the best CFOs from leading chemical companies.

A delighted Fröhlich said: “It is especially gratifying when you top such a poll during an economic downturn. The past year has not been easy for Akzo Nobel. For instance, we have had to give a profit warning. So it is particularly satisfying to be told by experts that we have done a good job in steering the company through financial heavy weather.”

It is not the first time that German born Fröhlich has been voted best CFO. In 2001 he was voted top CFO of AEX listed funds by Dutch business magazine Management Team.

At the time, the Akzo Nobel CFO was commended by fund watchers for his professionalism. He also has excellent presentation skills and an in-depth knowledge of the field, according to fund analysts, investment advisors, holders of securities and bankers.

(Released: June 26, 2003)