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Committees of the Supervisory Board

The Supervisory Board established three committees: The Personnel Committee dealing with personnel issues and the granting of loans, the Audit Committee and, according to the recommendation of the German Corporate Governance Code, newly introduced in July 2007, the Nomination Committee.

Among other things, the Personnel Committee is charged with setting Board members' remuneration and related contractual issues.

The Audit Committee makes preparations for the negotiations and resolutions of the Supervisory Board for the approval of the Financial Statements and Annual Report of the BASF Group and deals with risk monitoring and the internal control over financial reporting. The Audit Committee is also responsible for business relations with the company's auditors: It prepares the Supervisory Board's proposal to the Annual Meeting regarding the selection of an auditor, monitors the auditor's independence, defines the key aspects of the audit together with the auditor, negotiates the auditing fees and establishes the conditions for the provision of the auditor's non-audit services.

The Nomination Committee will prepare the proposals for the election of Supervisory Board members at the Annual Meeting.

Committee Members

Personnel Committee:

Professor Dr. Jürgen Strube (Chairman)
Robert Oswald
Dr. Tessen von Heydebreck
Michael Vassiliadis

Audit Committee:

Max Dietrich Kley (Chairman)
Ralf-Gerd Bastian
Franz Fehrenbach
Michael Vassiliadis

Max Dietrich Kley (former Chief Financial Officer of BASF) has particular knowledge and experience in the application of accounting principles and internal audit procedures, and has been named by the Supervisory Board as Audit Committee Financial Expert.

Nomination Committee:

Prof. Dr. Jürgen Strube
Prof. Dr. François N. Diederich
Michael Diekmann
Franz Fehrenbach
Dr. Tessen von Heydebreck
Max Dietrich Kley

Publications & Figures

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