German chemical giant BASF SE, has appointed Martin Brudermüller to succeed Kurt Bock as chairman of the board of directors in 2018.
Brudermüller's new role will officially begin at the end of the company's annual shareholders' meeting May 4.
He is currently vice chairman of the board of executive directors and chief technology officer of BASF SE
With the move, Bock, who has been the BASF chairman since 2011, will become eligible for election as a member and chair of BASF's supervisory board in 2020 following the statutory two-years cooling-off period.
Hans-Ulrich Engel was named the new vice chairman of the board.
“The change next year is part of the long-term succession planning for the supervisory board and the board of executive directors of BASF,” said Jürgen Hambrecht, chairman of the supervisory board of BASF SE.
“During the past seven years, Kurt Bock has successfully shaped the company and developed it further. We have 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,” he added.