media release

Fritz Fröhlich Wins European Honor

Akzo Nobel's Fritz Fröhlich has received a top European award in recognition of his excellent performance as the company's CFO.

Akzo Nobel CFO Fritz Fröhlich has received a top European award at an event staged in the Belgian capital.

Fröhlich—who was speaking at the 2nd Annual European Senior Financial Officer Meeting in Brussels—received the European Award for Financial Management Excellence, an honor which was decided by the media, analysts and his financial colleagues in the chemical industry.

Commended by the jury of media and industry experts as being a worthy recipient of the award, Fröhlich received particular praise for his openness, which was highly appreciated by journalists.

He was also hailed by analysts for his frankness on investment interaction, his contributions to major acquisitions and downsizing, and his efforts in preparing Akzo Nobel for the future by significantly strengthening its financials.

The award comes just nine months after he was named best CFO in the European chemical industry in a poll conducted on behalf of the Reuters Institutional Investor Research Group.

Chief Financial Officer of the company since 1998, Fröhlich is due to retire as Deputy Chairman and CFO of Akzo Nobel on May 1.

Released: (March 23, 2004)