The head of AkzoNobel, the world’s largest paints maker, is on medical leave due to fatigue and has indefinitely postponed a strategy update which analysts had hoped would bolster the Dutch group in a tough economic climate.

Shares in the firm dropped nearly 6 per cent in early trading yesterday after the maker of Dulux paints said Ton Buechner (47), who took over as chief executive in April, would be off work until the first half of October.

“As AkzoNobel is in a critical phase with its restructuring programme and setting a new strategy, the absence of the CEO is clearly not good news,” Rabobank analysts wrote. “As Ton Buehner previously was the CEO of [Swiss machinery maker] Sulzer . . . we are a bit surprised by this news,” it said. – (Reuters)