- BASF is selling its automotive OEM coatings, automotive refinish coatings and surface treatment units to Carlyle in partnership with Qatar Investment Authority; deal announced 10 Oct 2025.
- Transaction is subject to customary regulatory approvals and is expected to close in Q2 2026.
- Jens Luehring will be appointed CEO upon closing, with Dr Uta Holzenkamp remaining until closing and then supporting the transition.
- Luehring has 20+ years in corporate transformation and led the carve-out and stand-up of legacy Linde's Americas assets as a private equity-backed company.
Leadership transition
On 26 March 2026 BASF announced Jens Luehring will become CEO of the standalone coatings company upon closing of the carve-out; Dr Uta Holzenkamp will remain in charge until closing and then support the handover.
Transaction timeline
The sale of BASF’s automotive OEM coatings, automotive refinish coatings and surface treatment units to Carlyle, in partnership with Qatar Investment Authority, was announced 10 October 2025, is subject to customary regulatory approvals and is expected to close in Q2 2026.
Incoming CEO background
Jens Luehring is a German executive based in the United States with 20+ years in corporate transformation, carve-outs, M&A and finance; he led the carve-out and stand-up of legacy Linde’s Americas assets, served seven years as President & CEO, has held CEO and CFO roles for over a decade and began his career in investment banking.
Current CEO profile
Dr Uta Holzenkamp has led BASF Coatings since 2022 with global responsibility for around 10,500 employees, brings nearly 30 years of leadership across coatings, automotive and chemicals, and has held senior roles at BASF since 1997.
