BASF announced today that its supervisory board has decided to reduce the size of the company’s board of executive directors from seven to six effective 1 January 2020, as part of ongoing efficiency measures. Board member Sanjeev Gandhi will leave the company at his own request, the company says. He was appointed to the board in December 2014. In addition, as part of the ongoing reorganization, the cross-functional service units global engineering services, global digital services, and global business services will provide end-to-end services worldwide.
BASF said in June this year that it will cut 6,000 jobs, almost 5% of its workforce, by the end of 2021 as part of a plan to reshape its organization. The plans should result in annualized savings of €300 million ($335 million), generating an additional €2 billion/year of earnings from the end of 2021, the company said.
Following these changes, the board of executive directors has decided to reassign the responsibilities with effect from 1 January 2020.
Martin Brudermüller, 58, is chairman of the board of executive directors and CTO. His additional responsibilities include corporate legal, compliance, tax & insurance, corporate development, corporate communications & government relations, HR, and investor relations.
Hans-Ulrich Engel, 60, is vice chairman and CFO and has responsibilities for global procurement, global business services, global digital services, and corporate audit.
Saori Dubourg, 48, is board member in charge of agricultural solutions, care chemicals, nutrition & health, construction chemicals, bioscience research, as well as Europe.
Michael Heinz, 55, is board member in charge of industrial relations, director global engineering services, corporate environmental protection, and health & safety; European site & Verbund management; and is in charge of South America.
Markus Kamieth, 48, located in Asia is responsible for catalysts, coatings; dispersions & pigments, performance chemicals, advanced materials & systems research, BASF new business, Greater China, South & East Asia, and ASEAN & Australia/New Zealand.
Wayne Smith, 59, based in North America is responsible for monomers, performance materials, petrochemicals, intermediates, market & business development, site & Verbund management North America, country platforms North America, and process research & chemical engineering.
By Natasha Alperowicz
Source: Chemical Week
Asia may end up as a dumping ground for many chemicals from the world over, as US and European markets slump and economies slide into recession. With demand drying up […]
ExxonMobil will reduce 2020 capital spending by 30% and lower cash operating expenses by 15% in response to low commodity prices resulting from oversupply and demand weakness from the coronavirus […]
Air Liquide says it has entered into exclusive negotiations with private equity firm EQT (Stockholm, Sweden) for the potential sale to EQT of its wholly owned subsidiary Schülke & Mayr […]