- Core Transformation Office reports to the CEO and is led by Julia Raquet to implement CoreShift.
- CoreShift targets up to 20% net cash fixed cost reduction in core businesses by 2029 versus a 2024 baseline.
- BASF's core segments—Chemicals, Materials, Industrial Solutions and Nutrition & Care—generate about €40 billion in global sales.
- Program includes restructuring the Ludwigshafen Verbund site, reshaping global service units, harmonizing processes, deploying a dedicated ERP for the core and increasing AI use.
Leadership and mandate
The Core Transformation Office, led by Julia Raquet, reports directly to CEO Dr. Markus Kamieth and will coordinate cross‑unit transformation projects across core businesses, service units and corporate center units.
Targets and timeline
The CoreShift program targets up to 20% reduction in net cash fixed costs in the core by 2029 versus a 2024 baseline.
Core portfolio
Following carve‑outs of standalone units, BASF’s core comprises four segments—Chemicals, Materials, Industrial Solutions and Nutrition & Care—together accounting for about €40 billion in global sales and forming vertically integrated value chains.
Key measures
Actions include simplifying the core operating model and organization, harmonizing processes, deploying a dedicated ERP for the core, expanding AI usage, restructuring the Ludwigshafen Verbund site and reshaping global service units to capture synergies and improve competitiveness.
