Markus Kamieth Succeeds Martin Brudermüller as Chairman of the Executive Board of BASF AG

On December 20, BASF announced that Dr. Markus Kamieth (53) will succeed Martin Brudermuller (62) as Chairman of the Executive Board of BASF AG, effective at the end of the annual General Meeting on April 25, 2024.

Markus Kamieth was born in Dinslaken, Germany, in 1970. He received his PhD in organic chemistry from the University of Essen, Germany, in 1998.

He is responsible for BASF's dispersions and resins, catalysts, coatings, performance chemicals of Greater China, South and East Asia, ASEAN and Australia and New Zealand, and large projects in Asia.

Markus Kamieth’s career at BASF:

In 2020, he served as a member of the Executive Board of BASF Hong Kong;

In 2017, he served as a member of the Executive Board of BASF AG in Ludwigshafen, Germany;

In 2012, President of the Coatings Division of BASF in Ludwigshafen, Germany and Chairman of the Management Committee of BASF Coatings in Munster, Germany;

2009 Senior Vice President, Functional Chemicals, North America, BASF, Florham Park, New Jersey, USA;

2007 Director, Acrylic and Superadsorbents, North and South America, BASF, Charlotte, North Carolina, USA;

2005 Regional Business Manager for Inorganic Specialty Products, BASF, Evans City, Pennsylvania, USA;

2003, new business development manager of inorganic substances;

2001 Member of the Executive Board of BASF, Ludwigshafen, Germany;

In 1999, he joined BASF to conduct research on specialty chemicals.

Dr. Kurt Bock, Chairman of the Supervisory Board of BASF, said: "Since 2018, Brudermüller has led BASF with courage and vision. He has led BASF through extremely challenging times with strong leadership. , and takes important strategic decisions for the company’s long-term success. This includes, inter alia, BASF’s focus on transitioning to climate neutrality.

The Supervisory Board thanks Brudermüller for his outstanding achievements and that his successor Dr. Kamieth is a highly capable and experienced successor who has held various professional positions in Germany, the United States and Asia and has achieved outstanding results for BASF. At the same time, His combination of strategic vision and operational execution will inject new impetus into BASF's business and teams.

As early as July this year, it was reported that Dr. Kamieth had been backed by Brudermuller as the successor of the world's largest chemical giant, and it is not difficult to find that one of the most important reasons for this is that both men continue to be bullish on the Chinese market.

Earlier, according to Agence France-Presse reported that the current CEO of BASF Brudermuller had put forward the so-called "de-risk", "reduce dependence", "decoupling" and other statements: in terms of the chemical market, China accounts for about 50% of the global market, Europe accounts for only 17%, and the European market has hardly grown. Not to mention the fact that European production has been reduced by almost 25% due to the current economic difficulties. Therefore, as the world's largest chemical company, it is of course particularly important not to give up 50% of the global market share.