The supervisory board of German chemicals giant BASF (Ludwigshafen; www.basf.com) has extended the appointment of Kurt Bock as company chairman and member of the executive board of directors until 2021. His term was originally set to expire next year. The supervisory board also extended by five years the terms of executive directors board vice chairman Martin Brudermüller, CFO Hans-Ulrich Engel and executive directors board member Harald Schwager.

Meanwhile, the company announced that it is combining all of its pigments activities into one global business unit effective January 2016. By H2 next year, BASF plans to carve out this business, and establish separate legal entities. The new unit, which will probably be headquartered near Ludwigshafen, generated sales of EUR 1 bn in 2014 and is home to 2,500 global employees. Its portfolio includes phthalocyanines, high performance pigments, azo pigments, effect pigments, inorganic pigments, dyes and pigment preparations. The business will be headed by Alexander Haunschild, currently senior vice president of Pigments and Resins Europe.