The transformation of chemistry's No. 1 into a European Company took about 9 months, from the permission given by shareholders on April 26, 2007 to the registration in the trade register on January 14, 2008. On November 15, 2007, the management and staff representatives signed an agreement on staff representation within BASF SE. It extends at the European level German laws on joint management. (Ref. 080093)
The agreement, signed on November 15 (see our article No. 070965), maintains the dual management structure which existed within BASF AG and adapts German joint management regulations to European law. The two staff representation bodies for the group are now the supervisory board and the European Works Council (EWC). The agreement covers about 51.000 employees out of the 80.000 people BASF employs throughout the world. It can be terminated with a one-year notice but only after 2014, and it can b
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