The board member responsible for the Asian business, Dr. Markus Kamieth (53), is set to assume the position of BASF CEO. He will succeed the current CEO, Dr. Martin Brudermüller (62), at the end of the annual meeting on April 25, 2024, the company announced. The chemist Kamieth was considered a favorite for the succession of CEO Brudermüller, along with his fellow board member Dr. Melanie Maas-Brunner (55). Chief Technology Officer Maas-Brunner, who is also a chemist, will depart from the company after more than 25 years to pursue new professional opportunities, as she has confirmed on the Linkedin platform. The contract of Maas-Brunner, who also serves as Labor Director and Site Manager for the Ludwigshafen plant, will expire at the end of January 2024.

Kamieth, born in Dinslaken, has been with BASF since 1999, holding various national and international positions. He spent several years in the US and, since 2020, has been based in Hong Kong, overseeing the Asian business. He focuses particularly on the growth market of China, where BASF is currently undertaking its largest single investment with a new integrated production site in Zhanjiang. Kamieth is also responsible for the Coatings business segment at BASF. This segment combines vehicle coatings, building paints, and surface technology. BASF now plans to subject this division to a fitness test alongside the Agricultural Chemistry and Battery Materials segments.

"Markus Kamieth is an extremely competent and experienced successor who has achieved outstanding results for BASF during his diverse career in Germany, the US and Asia. He combines strategic vision and operational implementation strength and will give new impetus to BASF's businesses and teams," said BASF Supervisory Board Chairman Dr. Kurt Bock in praise of the manager.

The BASF board is scheduled to still consist of six members after the changes. Dr. Katja Scharpwinkel (54) will succeed Maas-Brunner as of February 1, 2023. She joined BASF in 2010 with the acquisition of the former specialty chemicals company Cognis and currently leads the Europe, Middle East, and Africa region. "The supervisory board regrets the long-standing desire of Melanie Maas-Brunner to dedicate herself to new professional challenges, and sincerely thanks her for her contributions," stated Bock as he bid farewell to the departing manager.

Anup Kothari (55), currently Head of the Nutrition & Health business segment, is expected to join the board on March 1, 2023. The India-born executive, who has been with the company since 1999, worked in the US, Germany, and China for BASF. The contract of board member Michael Heinz (59) has been extended until the annual general meeting in 2026.

Kamieth takes the helm of the chemical company in challenging times. BASF is grappling with a significant decline in earnings due to the economic downturn, and the anticipated recovery in demand expected in 2023 has not yet materialised. Additionally, as an energy-intensive producer, the company is burdened by high energy prices, which are forecasted to permanently limit competitiveness.