Akzo Nobel (OTCQX:AKZOY) CEO Ton Buechner is stepping down due to health reasons, and will be replaced by the company's current chemicals division chief, Thierry Vanlancker.

It's the second time he resigned on his doctor's advice, having announced his departure in September 2012, before resuming work a few months later.

Earlier this year, Buechner repelled a takeover attempt from U.S. rival PPG Industries (NYSE:PPG).

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