Sector News

Martin Brudermüller to succeed Kurt Bock as BASF chairman in May

December 21, 2017
Chemical Value Chain

Martin Brudermüller to succeed Kurt Bock as BASF chairman next year. Martin Brudermüller, 56, currently vice chairman of the BASF board, will succeed Kurt Bock as chairman, effective end of the annual shareholders’ meeting on 4 May 2018, BASF announced today.

Bock, 59, has been BASF’s chairman since 2011 and a member of the board of executive directors since 2003. The change will allow Bock to be elected as a member and chair of BASF’s supervisory board in 2020, after the end of the statutory two-year cooling-off period. Jürgen Hambrecht, currently chairman of the supervisory board, has asked Bock to stand for the post of chairman. The final decision on who will be the chairman of the supervisory board lies with the supervisory board.

Hans-Ulrich Engel, 58, was appointed as the new vice chairman of the board. In addition, the supervisory board has extended the appointments of Brudermüller, Engel, and Sanjeev Gandhi, 51, as board members by five years until the annual shareholders’ meeting in 2023. The number of board members will be reduced from eight to seven in May 2018.

The change is part of the long-term succession planning for the supervisory board and the board of executive directors of BASF, the world’s largest chemical company. During the past seven years, Bock has successfully shaped the company and developed it further, BASF says. The supervisory board has asked him to stand for election to the supervisory board in 2020, so that the company can continue to benefit from his expertise and experience.

Brudermüller was appointed vice chairman in 2011. In addition, he is chief technology officer of BASF. He has been a member of the board of executive directors since 2006 and had responsibilities for APAC, among others. Engel became a member of the board of executive directors in 2008 and was among others responsible for North America. Since 2011, Engel is the CFO of BASF.

By Natasha Alperowicz

Source: Chemical Week

comments closed

Related News

January 23, 2022

Eastman invests US$1B in world’s largest molecular plastics recycling facility in France

Chemical Value Chain

Eastman is investing up to US$1 billion in building what it says is the world’s largest molecular plastics recycling facility in France. The new facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tons of hard-to-recycle plastic waste annually – enough plastic waste to fill Stade de France national football stadium 2.5 times.

January 23, 2022

LG Energy Solution opens books for South Korea’s largest IPO at up to $10.8 bln

Chemical Value Chain

Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.

January 23, 2022

SHYNE, the largest consortium to promote renewable hydrogen in Spain, is born

Chemical Value Chain

The SHYNE (Spanish Hydrogen Network) project is the largest multisectoral consortium in Spain, created to promote the decarbonization of the economy through renewable hydrogen. SHYNE will have a total investment of €3.23 billion euros that will serve to develop more competitive technologies and evolve both the Spanish industry and its infrastructure towards decarbonization, generating more than 13,000 jobs.

Send this to a friend