Amsterdam — AkzoNobel was forced into a surprise change in chief executive officer on Wednesday, adding to the upheaval engulfing the Dutch paint maker as it splits in two in response to a failed takeover attempt by a US rival. CEO Ton Büchner resigned for unspecified health reasons, to be replaced with immediate effect by specialty chemicals head Thierry Vanlancker, the Amsterdam-based company said in a statement on Wednesday. The sudden switch comes as rival-turned-suitor PPG Industries could return with another bid later this year and US hedge fund Elliott Management Corp. pursues a court battle to remove Chairman Antony Burgmans. Büchner, who took a months-long leave of absence for a bout of fatigue shortly after taking the helm in 2012, will be replaced by 52-year-old Belgian national Vanlancker. In what represents a meteoric rise to the top job, the former DuPont executive joined AkzoNobel only last year after overseeing the spinoff of pigment maker Chemours from the US compan...
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