The board of the chemical company BASF will be narrowed to the coming year. The board would from January 1, 2020 no longer seven, but have six members, the company said. BASF called the step in a communication an efficiency measure.
Leaving the board is therefore at his own request Sanjeev Gandhi. Born in 1966 in Mumbai, India, he has been a member of the Executive Board since December 2014, most recently responsible for the Hong Kong-based Asia-Pacific region, Petrochemicals and Intermediates businesses. The latter develops, produces and markets around 700 intermediates, which serve as starting materials for plastics, pharmaceuticals, textiles, detergents and crop protection products.
BASF has launched an austerity program as part of a new Group strategy that, according to the company's earlier statements, will contribute a total of half a billion euros to the operating result (Ebitda) in the current financial year. The Ludwigshafenern cause, among other things, the slowdown in the auto industry and international customs disputes to create.
In June, BASF announced it would reduce 6,000 jobs worldwide.
