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21.12.2017 - 09:37

DGAP-Adhoc: BASF SE: Change in leadership: BASF decides on succession



DGAP-Ad-hoc: BASF SE / Key word(s): Change of Personnel


BASF SE: Change in leadership: BASF decides on succession


21-Dec-2017 / 09:37 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Change in leadership: BASF decides on succession



- Martin Brudermüller to succeed Kurt Bock as Chairman of the Board of Executive Directors in 2018



- Kurt Bock to be proposed for election at the Annual Meeting 2020 as successor to the Chairman of the Supervisory Board



- Hans-Ulrich Engel to become Vice Chairman of the Board of Executive Directors and to remain Chief Financial Officer



- Board of Executive Directors to consist of seven instead of eight members





Ludwigshafen, Germany - December 21, 2017 - Effective at the end of the Annual Shareholders' Meeting on May 4, 2018, Dr. Martin Brudermüller (56), currently Vice Chairman of the Board of Executive Directors, will become Chairman of the Board of Executive Directors of BASF SE. The Supervisory Board appointed Brudermüller in its meeting today. Brudermüller will succeed Dr. Kurt Bock (59), who is BASF's Chairman since 2011 and has been a member of the Board of Executive Directors since 2003. This 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-years cooling-off period.



Dr. Hans-Ulrich Engel (58) was appointed as new Vice Chairman of the Board of Executive Directors. Furthermore, the Supervisory Board extended the appointments of Brudermüller, Engel and Sanjeev Gandhi (51) to the Board of Executive Directors by five years until the Annual Shareholders' Meeting 2023. In the course of the changes, the number of Board members will be reduced from eight to seven in May 2018.



The change next year is part of the long-term succession planning for the Supervisory Board and the Board of Executive Directors of BASF. During the past seven years, Kurt Bock has successfully shaped the company and developed it further. 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. With Martin Brudermüller, the Supervisory Board is convinced, to again name a very competent and experienced successor from within the company.



Brudermüller was appointed as Vice Chairman in 2011. In addition, he is Chief Technology Officer of BASF SE. Brudermüller has been a member of the Board of Executive Directors since 2006. During this time, he was among others responsible for the Asia Pacific region headquartered in Hong Kong.



Engel became a member of the Board of Executive Directors in 2008 and was among others responsible for the region North America headquartered in Florham Park, New Jersey. Since 2011 he is Chief Financial Officer of BASF SE.



Contact



Anke Schmidt



Corporate Communications and Government Relations



+49 621-60-42023



anke.schmidt@basf.com



Dr. Stefanie Wettberg



Investor Relations



+49 621-60-48002



stefanie.wettberg@basf.com



 






 








21-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



























Language: English
Company: BASF SE

Carl-Bosch-Straße 38

67056 Ludwigshafen

Germany
Phone: +49 (0)621 60-0
Fax: +49 (0)621 60-4 25 25
E-mail: info.service@basf.com
Internet: www.basf.com
ISIN: DE000BASF111, DE000A0JRFB0, Börse Dublin, Frankfurter Wertpapierbörse, DE000A0JRFA2, Börse Dublin, Frankfurter Wertpapierbörse, DE000A0JQF26, Börse Dublin, Frankfurter Wertpapierbörse, DE000A0EUB86, Frankfurter Wertpapierbörse, DE0008846718, Frankfurter Wertpapierbörse, DE000A0XFK16, Börse Luxemburg, Frankfurter Wertpapierbörse, XS0420401779, Börse Luxemburg, XS0412154378, Börse Luxemburg, Frankfurter Börse, DE000A0T4DU7,Börse Luxemburg, Frankfurter Börse, CH0039943292, Swiss Exchange (SWX), CH0039943383, Swiss Exchange (SWX), DE000A0TKBM, Börse Luxemburg, Frankfurter Börse, XS0414672070, Börse Luxemburg, ,
WKN: BASF11, WKN A0JRFB, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JRFA, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JQF2, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0EUB8, Frankfurter Wertpapierbörse, , WKN 884671, Frankfurter Wertpapierbörse, , WKN A0XFK1, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0XFHJ, Börse Luxemburg, , WKN A0T6EG, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T4DU, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN 3994329, Swiss Exchange (SWX), , WKN 3994338, Swiss Exchange (SWX), , WKN A0TKBM, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T65R, Börse Luxemburg,
Indices: DAX, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; London, SIX





 
End of Announcement DGAP News Service




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