By Ed Frankl

BASF SE said Thursday that Chief Financial Officer Hans-Ulrich Engel will retire in 2023, and named a company veteran as his replacement.

Mr. Engel will step down after the annual shareholders' meeting next year, to be replaced by Dirk Elvermann, who has led BASF's corporate finance division since 2019, the German chemical company said.

Mr. Elvermann, who also becomes chief digital officer, has been with the Ludwigshafen-based company since 2003, and was previously CFO at Wintershall Holding GmbH, it said.

BASF added that its supervisory board extended Chief Executive Martin Brudermueller's contract to 2024 from its previous end date in 2023.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

October 20, 2022 06:01 ET (10:01 GMT)

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