BASF has unveiled a company-wide reorganization in a bid to hike profits by $2.3 billion annually by 2021, the equivalent of increasing pretax profits by between 3 and 5% per year. The firm also aims to increase annual sales of products it claims make a substantial contribution to sustainability to $25 billion by 2025.
BASFs reorganization will involve moving its 11 business units into six divisions. The company will also simplify structures and processes, sharpen its portfolio, and better align its businesses to its customers. We will transform our organization to be more agile and customer focused, BASF Chairman Martin Brudermller told journalists at a briefing at the firms headquarters in Ludwigshafen, Germany, on Nov. 20.
As part …
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