Shares in AkzoNobel fall 4.4 percent to an 11-week lowas the Dutch paints maker's Chief Executive Ton Buechner isstill on medical leave, dashing analysts' hopes for a quickturnaround at the company.
"Even if Ton Buechner would return, a strategy change willnot be announced in the short term as the budgets for 2013 arefinished and big changes would need to be communicated with thecapital markets before they are implemented," ING analyst FabianSmeets writes in a research note.
There is a high chance Buechner will not return as CEO, andAkzoNobel's stock may fall further until leadership returns,adds Smeets.
AkzoNobel last announced that Buechner, who took over as CEOin April, had taken medical leave.
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