Material | June 14, 2007
Conversion of BASF into SE
The conversion of BASF Aktiengesellschaft into a European Company (Societas Europaea, SE) has reached a further milestone: On June 12, the special negotiating body of employees (SNB) held the constituent meeting in Heidelberg, Germany.
The 29 European employee representatives of BASF voted for Robert Oswald, chairman of the central works council, to chair the SNB. At its meeting, the SNB established a twelve-man negotiating committee, comprising representatives from Belgium, Germany, France, Great Britain, Italy, Poland, Spain as well as an executive representative. The committee will negotiate an employee participation agreement with representatives of the company's management by no later than November. Hans-Carsten Hansen, President Human Resources at BASF is chief negotiator for the management board of BASF. The agreement governs issues such as cross-border information for and consultation of employees as well as their participation on the supervisory board. BASF plans to complete the conversion into a SE in the first quarter of 2008 after concluding negotiations with the special negotiating body of employees.