Ludwigshafen, Germany - BASF Aktiengesellschaft is now a European company (Societas Europaea, SE). Ludwigshafen-based BASF officially completed the change 14 Jan and the company's name is now BASF SE.
At a ceremony at Ludwigshafen district court, Eggert Voscherau, vice chairman of the BASF SE board, thanked everyone involved in the conversion process: "This is a historic day for BASF and its employees. We are the first company in our industry to embody the idea of Europe through its legal form. At the same time, we are strengthening the involvement of European employees and improving our corporate governance."
The board now has 12 members: six representatives each from shareholders and employees.
BASF SE has also set up a new European works council (BASF Europa Betriebsrat) consisting of 23 members from 12 European countries.
The headquarters and chief administrative offices of BASF SE will remain in Ludwigshafen.