Wintershall Dea management board to step down after Harbour Energy deal closed [Reuters]
BASF SE S/ADR (BASFY)
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Source: Reuters
CEO Mario Mehren, COO Dawn Summers and CFO Paul Smith will remain members of the management board until the transaction closes and will then resign from their mandates, it said. Stefan Schnell, currently senior vice president of Group Reporting & Performance Management at BASF , will be proposed as chairperson (CEO) of Wintershall Dea as of the closing of the transaction, expected in the fourth quarter. Larissa Janz, vice president of special projects at Wintershall, would then assume the role of deputy CEO. Harbour Energy in December to acquire Wintershall Dea's non-Russian oil and gas assets in a $11.2 billion share and cash deal with co-owners BASF and LetterOne that creates one of the world's biggest independent producers. Upon completion, Wintershall Dea's main tasks will include handling claims related to the expropriation of Russian assets, the sale of remaining assets and the closure of the headquarters' units in the German cities of Kassel and Hamburg. Some 850 emp
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