Many readers have commented on the series of interviews that TMI has conducted this year with Peter van Rood, Group Treasurer, AkzoNobel and his colleagues. In 2007, Peter van Rood was tasked to transform the company’s treasury function entirely, turning it from an execution centre, focused on routine, repetitive tasks to a strategic centre that was best-in-class in its industry. This coincided with some of the most significant events in the life of the company in recent years, with 60% of the company’s debt maturing between April 2008 and March 2009, the peak of the financial crisis, and the acquisition of ICI.
Since then, every aspect of treasury has seen radical change and enhancement. The company has rationalised its banking partners, devised new policies and procedures, implemented new technology, enhanced its cash and working capital framework, secured financing at the peak of the crisis, and is well-respected as a leading force in the treasury profession. This success is directly attributable to Peter van Rood, the excellent team that he has appointed, and their key banking partners, including ING, and suppliers. As Peter van Rood confirms,