Published January 05, 2013
FRANKFURT – Juergen Hambrecht, the former chief executive of Germany's BASF,
Hambrecht, who left the CEO post in 2011, has sought to get a seat on BASF's board of directors, a body known in Germany as the supervisory board.
German law prohibits an immediate move from management to the board of directors, demanding that executives undergo a two-year "cooling off" period.
"BASF has a very good supervisory board. New appointments will take place in 2014," Hambrecht told the paper. "I have cooled off for almost two years, so it doesn't make much difference if I do it for three," he further said.
(Reporting by Edward Taylor; Editing by Ruth Pitchford)