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Dr. Hans-Ulrich Engel to join BASF Board of Executive Directors
04 Mar '08
3 min read
The Supervisory Board of BASF SE has appointed a new member of the Board of Executive Directors in its meeting: Dr. Hans-Ulrich Engel (48) will be responsible for Oil & Gas, Europe and Global Procurement & Logistics with immediate effect.
In addition, the Supervisory Board elected members Michael Diekmann (chairman of the Board of Management of Allianz SE, Munich) and Robert Oswald (chairman of the works council of the Ludwigshafen site of BASF SE and chairman of the joint works council of BASF) as deputy chairmen of the Supervisory Board.
In a further resolution, the Supervisory Board approved the financial statements of BASF SE for 2007 as well as the consolidated financial statements of BASF Group, which were submitted by the Board of Executive Directors. At the same time, the Supervisory Board approved the dividend proposal of €3.90 per share and the 1:2 stock split suggested by the Board of Executive Directors.
The Board of Executive Directors and the Supervisory Board of BASF SE will therefore propose to the Annual Meeting on April 24, 2008 the payment of an increased dividend of €3.90 per share for 2007 (2006: €3.00). If the proposal is approved by the Annual Meeting, the dividend will be paid out on April 25, 2008. BASF shareholders would thus receive a dividend yield of approximately 4.7 percent relative to the closing price on March 3, 2008.
Hambrecht: "Excellent addition to our team"
With the appointment of Engel, BASF's Board of Executive Directors will consist of eight members following the Annual Meeting. Engel is a lawyer and has headed BASF's Legal, Taxes & Insurance division since January 2008. He joined BASF's Legal department in 1988 and has held a number of responsibilities including Managing Director of BASF Schwarzheide GmbH, head of the Regional Functions NAFTA division at BASF Corporation in the United States, and global project manager for the integration of the catalysts business acquired in 2006.
In addition, the Supervisory Board elected members Michael Diekmann (chairman of the Board of Management of Allianz SE, Munich) and Robert Oswald (chairman of the works council of the Ludwigshafen site of BASF SE and chairman of the joint works council of BASF) as deputy chairmen of the Supervisory Board.
In a further resolution, the Supervisory Board approved the financial statements of BASF SE for 2007 as well as the consolidated financial statements of BASF Group, which were submitted by the Board of Executive Directors. At the same time, the Supervisory Board approved the dividend proposal of €3.90 per share and the 1:2 stock split suggested by the Board of Executive Directors.
The Board of Executive Directors and the Supervisory Board of BASF SE will therefore propose to the Annual Meeting on April 24, 2008 the payment of an increased dividend of €3.90 per share for 2007 (2006: €3.00). If the proposal is approved by the Annual Meeting, the dividend will be paid out on April 25, 2008. BASF shareholders would thus receive a dividend yield of approximately 4.7 percent relative to the closing price on March 3, 2008.
Hambrecht: "Excellent addition to our team"
With the appointment of Engel, BASF's Board of Executive Directors will consist of eight members following the Annual Meeting. Engel is a lawyer and has headed BASF's Legal, Taxes & Insurance division since January 2008. He joined BASF's Legal department in 1988 and has held a number of responsibilities including Managing Director of BASF Schwarzheide GmbH, head of the Regional Functions NAFTA division at BASF Corporation in the United States, and global project manager for the integration of the catalysts business acquired in 2006.
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