BASF SE (BAS) named a new head for its European personal-care chemical business as it hones the unit’s focus after a disappointing set of results from additives and ingredients used in cosmetics.
Jan-Peter Sander will take up the role of senior vice president of personal care in Europe on Oct. 1, succeeding Simon Medley, who is leaving to “pursue his career outside the group,” Ludwigshafen, Germany-based BASF said in a statement.
BASF is seeking more synergies and cost savings from its integration with Cognis after a dip in performance at its care- chemicals business, Chief Executive Officer Kurt Bock said July 26. BASF paid $3.8 billion for Cognis, which was folded into BASF’s care chemicals division that saw a decline in second- quarter sales and earnings.
“We will continue to establish BASF as the market-leading supplier to the personal care industry by focusing on anticipating customers’ current and future requirements and providing the market with innovation-driven solutions,” Sander said today in the release.
BASF did a “very detailed” study into whether it may be losing market share to competitor Croda International Plc (CRDA), though there was no evidence of this happening, Bock said in July.
Shares of BASF rose 1.6 percent to 66.67 euros in Frankfurt as of 2:36 p.m.
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