AkzoNobel’s Russian subsidiary placed under temporary external administration by Presidential decree
AkzoNobel has taken note of a presidential decree signed by the President of Russia placing the company’s Russian subsidiaries under temporary external administration.
Under temporary external administration, operational oversight is transferred to a designated external entity, while underlying ownership remains unchanged. AkzoNobel is currently reviewing the decree and assessing its implications. Russia represents less than 2% of AkzoNobel’s revenue and is not material to the company’s overall financial performance.
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