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BASF: New team as of 2008

Several changes will take place at chemical company BASF. Next to changes in the Board of Directors the company transforms from a German entity into an European company.

In its meeting of July 6, 2007, the supervisory board of BASF Aktiengesellschaft, in Ludwigshafen, Germany has appointed two new members to the Board of Executive Directors: Dr. Harald Schwager (47) and Dr. Wolfgang Büchele (48). The contracts of two current members of the Board of Executive Directors – Dr. Kurt Bock (49) and Dr. Andreas Kreimeyer (52) – were extended until the Annual Meeting in 2012.

As a result of these changes, the Board of Executive Directors has decided to reassign responsibilities within the Board.

Following the transformation of the German BASF Aktiengesellschaft into a European Company, Societas Europaea (BASF SE), these changes will be made stepwise until the Annual Meeting on April 24, 2008.

Effective August 1, 2007, the Board of Executive Directors (BED) has appointed Chief Financial Officer Dr. Kurt Bock as Chairman and CEO of BASF Corporation in the United States in addition to his current duties.

The new appointments to the Board were necessary due to the retirement of three current members.

  • Eggert Voscherau (64), BED member since 1996 and its Vice Chairman as well as BASF's Industrial Relations Director, will retire following the Annual Meeting on April 24, 2008. Harald Schwager will succeed Voscherau. He is a chemist and has been Verbund Site Manager Ludwigshafen since February 2006.
  • Peter Oakley (54), member of BED since 1998 and responsible for Agricultural Products & Nutrition, Specialty Chemicals Research and BASF Plant Science, will leave the company at his own request to pursue a new business opportunity following the transformation of BASF Aktiengesellschaft into BASF SE.
  • Klaus Peter Löbbe (61), BED member since 2002 and responsible for North America and the Catalysts division as well as being Chairman and CEO of BASF Corporation, Florham Park, New Jersey, will retire from BASF for health reasons, effective July 31, 2007. Chief Financial Officer Kurt Bock will assume Löbbe's US-based responsibilities in addition to his current duties.

With the new appointments, the number of members of the Board of Executive Directors will be reduced from nine to eight. The responsibilities on the Board will be organized as follows and will be effective at the conclusion of the Annual Meeting on April 24, 2008:

  • Dr. Jürgen Hambrecht: Chairman of the Board of Executive DirectorsDr.
  • Harald Schwager: Human Resources; Verbund Site Management Europe; Engineering; Environment, Safety & Energy
  • Dr. Kurt Bock: Chief Financial Officer; North America; Catalysts; Finance; Information Services
  • Dr. Martin Brudermüller: Plastics; Asia Pacific
  • Dr. Wolfgang Büchele: Oil & Gas; Europe; Global Procurement & Logistics
  • Dr. Andreas Kreimeyer: Research Executive Director; Chemicals; Chemicals Research & Engineering
  • Dr. Stefan Marcinowski: Agricultural Products & Nutrition; South America; Specialty Chemicals Research
  • Dr. John Feldmann: Performance Products; Polymer Research

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