BASF reduces size of Board of Executive Directors from seven to six members

  • Sanjeev Gandhi to leave the Board effective December 31, 2019
  • Redistribution of responsibilities

The Supervisory Board of BASF SE on October 21, 2019, decided to reduce the size of the company’s Board of Executive Directors from seven to six members effective January 1, 2020, as part of ongoing efficiency measures. Board member Sanjeev Gandhi will leave the company at his own request. He was appointed to the Board in December 2014.

In addition as part of the ongoing reorganization, the cross-functional service units “Global Engineering Services,” “Global Digital Services” and “Global Business Services” will provide end-to-end services worldwide.

Following these changes, the Board of Executive Directors has decided to reassign the responsibilities with effect from January 1, 2020:

Dr. Martin Brudermüller (58), Chairman of the Board of Executive Directors and Chief Technology Officer

Corporate Legal, Compliance, Tax & Insurance; Corporate Development; Corporate Communications & Government Relations; Corporate Human Resources; Corporate Investor Relations

Dr. Hans-Ulrich Engel (60), Vice Chairman of the Board of Executive Directors and Chief Financial Officer

Corporate Finance; Global Procurement; Global Business Services; Global Digital Services; Corporate Audit

Saori Dubourg (48)

Agricultural Solutions; Care Chemicals; Nutrition & Health; Construction Chemicals; Bioscience Research; Region Europe

Michael Heinz (55), Industrial Relations Director

Global Engineering Services; Corporate Environmental Protection, Health & Safety; European Site & Verbund Management; Region South America

Dr. Markus Kamieth (48), located in Asia

Catalysts; Coatings; Dispersions & Pigments; Performance Chemicals; Advanced Materials & Systems Research; BASF New Business; Greater China; South & East Asia, ASEAN & Australia/New Zealand

Wayne T. Smith (59), located in North America

Monomers; Performance Materials; Petrochemicals; Intermediates; Market & Business Development, Site & Verbund Management North America; Country Platforms North America; Process Research & Chemical Engineering

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 122000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of around EUR 63 billion in 2018. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S.

Patrik Frisk To Become Chief Executive Officer Of Under Armour On January 1, 2020

The Board of Directors of Under Armour, Inc. (NYSE: UA, UAA) on October 22, 2019, announced that President & Chief Operating Officer (COO) Patrik Frisk will become the company’s Chief Executive Officer (CEO), effective Jan. 1, 2020. Frisk, 56, will serve as CEO & President, reporting to Kevin Plank and will join Under Armour’s Board of Directors. Plank, having served as Chairman and CEO since he founded the company in 1996, will become Executive Chairman & Brand Chief continuing to lead Under Armour’s Board of Directors while focusing on product elevation, amplifying the brand story and stewarding the company’s strong team culture.

President & Chief Operating Officer (COO) Patrik Frisk will become Under Armour’s Chief Executive Officer (CEO), effective Jan. 1, 2020.

“Our multi-year, transition approach has ensured purposeful leadership continuity. Patrik is the right person to serve as Under Armour’s next CEO,” said Plank. “As my partner during the most transformative chapter in our history, he has been exceptional in his ability to translate our brand’s vision into world-class execution by focusing on our long-term strategy and re-engineering our ecosystem through a strategic, operational and cultural transformation.”

Plank continued, “Having earned the trust and respect of our teammates, customers and shareholders, Patrik’s proven track record of industry experience, straightforward leadership style and championship of our brand and culture makes him uniquely positioned to smartly capitalize on the opportunities in front of us. As I envision our future – I look forward to further partnering with Patrik to continue our pursuit of becoming the best athletic brand in the world. I am confident that we are just getting started.”

Under Armour President & COO Patrik Frisk added, “I joined Under Armour to be part of an iconic brand that demonstrated the power of sport and premium experience, when properly harnessed, is capable of unlimited possibilities. Today, I am even more resolute in this conviction. The opportunity that lies ahead of us is incredible. As our entire global team continues to lean hard into our transformation, I am honored to lead this great brand toward the realization of its full potential.”

Mr. Frisk joined Under Armour in 2017 following nearly 30 years of experience in the apparel, footwear and retail industry. Prior to Under Armour, he was CEO of The ALDO Group, a global footwear and accessories company. Previous to that, he spent more than a decade with VF Corporation where he held numerous leadership positions including Coalition President of Outdoor Americas (The North Face® and Timberland®), President of the Timberland® brand, President of Outdoor & Action Sports (EMEA), and Vice President and General Manager of The North Face®.

Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear and accessories. Powered by one of the world’s largest digitally connected fitness and wellness communities, Under Armour’s innovative products and experiences are designed to help advance human performance, making all athletes better.

Eric Liedtke, Executive Board Member Global Brands, to leave adidas at the end of 2019

Eric Liedtke

After 25 successful years at adidas, Eric Liedtke (52), Executive Board
Member of adidas AG, responsible for Global Brands, has informed the
Supervisory Board that he will not be available as an Executive Board
member for the entire next strategic cycle starting in 2021.

To ensure his successor can already be fully integrated into developing
the adidas strategy beyond 2020, the Supervisory Board has, in mutual
agreement with Eric Liedtke, approved the termination of his appointment as an Executive Board member effective December 31, 2019.

Eric Liedtke, a US citizen, joined adidas in 1994 as Global Line Manager
for Cross Training in Portland/Oregon. During his 25-year career with
adidas, Eric Liedtke has held senior management positions of increasing responsibility at adidas America and the adidas AG Headquarters in
Herzogenaurach, Germany.

Since 2014, he has been Executive Board Member of adidas AG
responsible for Global Brands. Eric Liedtke was instrumental in
developing adidas’ current strategic business plan ’Creating the New’ that spans the years 2016 to 2020.

He also launched adidas’ unique partnership with Parley for the Oceans
to prevent plastic waste and grew successful open-source collaborations with global influencers such as Kanye West, Pharrell Williams and
Beyoncé. Igor Landau, Chairman of the Supervisory Board of adidas AG, stated: “On behalf of the Supervisory Board, I would like to congratulate
Eric Liedtke on a remarkable career at our company and thank him for
his vision, leadership and the many contributions he has made to the
success of adidas in the last 25 years.

Most recently, Eric Liedtke played a key role in developing and
implementing ‘Creating the New’, our long-term strategic business plan
that has led to dynamic top- and bottom-line growth for the company
since its start in 2016. ”

adidas CEO Kasper Rorsted said: “Eric Liedtke has done a great job in
positioning adidas as the creator sports brand. I can only praise his
marketing expertise, his unrivaled passion for our brands and his
commitment to sustainability. Together with all adidas employees, I
would like to extend our heartfelt gratitude to Eric and wish him all the
best for his future endeavors.”

Eric Liedtke stated: “adidas has been my professional home for more
than 25 years. Now it’s time to move on to pursue new projects and
ventures. It has always been a true honour for me to serve this fantastic
company. I am proud about what we have achieved together as a team
and I am grateful that I could work together with so many incredible
people from around the world who share the love for our brands. Thank you, everyone, it’s been a great ride.”