Markus Kamieth, future chairman of the board of BASF SE, speaks at the general meeting of the chemical company BASF. picture alliance/dpa | Uwe Anspach
Markus Kamieth becomes the new CEO of BASF. The trained chemist was previously the group’s head of Asia.
Recently, the chemical company’s board of directors announced another billion-dollar savings program and further job cuts at the main plant in Ludwigshafen.
At the beginning of 2024, the DAX group recorded a decline in sales and earnings due to significantly lower prices.
The new BASF boss Markus Kamieth takes over the leadership in challenging times. This was emphasized by his predecessor Martin Brudermüller on his last day for the DAX group during the general meeting in Mannheim on Thursday. The world‘s largest chemical company is faced with cost and margin pressure. In particular, profitability at the largest location in Ludwigshafen, the headquarters of the DAX group, must be increased, explained the 62-year-old.
Kamieth was previously BASF’s head of Asia
Management sees the greatest opportunities for new customers and profits in the growth market in Asia, despite numerous critical questions from shareholders and shareholder advocates during the general meeting. It is unlikely that the new CEO will deviate from these goals. Markus Kamieth, 53 years old, a trained chemist who has worked for BASF for 25 years, previously held the position of Asia Head of the group.
However, the management style could change: “It was always important to me to speak plainly and to address things openly. Not to make you miserable, but to encourage you,” said company boss Brudermüller during his farewell appearance in front of around 5,000 shareholders. “For some people I was too loud or too direct. But my impression was often that this volume was also needed in public.”
New boss, new style?
The new company leader chose different words when he stood on stage next to his predecessor: He had had many conversations with the BASF teams around the world in the past few weeks. “For me it was all about listening,” assured Kamieth. When he took office, the enthusiastic cyclist received a cycling jersey with the BASF logo and his initials as a gift.
The new top manager will also need staying power when it comes to the company’s goals: the chemical company’s board of directors recently announced another billion-dollar savings program and further job cuts at the main plant in Ludwigshafen. The company’s largest production site is to be restructured, with the aim of achieving additional annual savings of one billion euros by the end of 2026. Despite these measures, Brudermüller reiterated that Ludwigshafen would remain the company’s largest location and headquarters in the future.
BASF management had already announced a savings program in 2022. This should reduce annual costs by a total of 1.1 billion euros by the end of 2026. This includes the reduction of around 3,300 jobs worldwide, including 700 jobs in production in Ludwigshafen, as well as the closure of several energy-intensive chemical plants, for example for ammonia.
Decline in sales and earnings in the first quarter
At the beginning of 2024, the DAX group recorded a decline in sales and earnings due to significantly lower prices. In addition, negative currency effects put a strain on the financial situation. Revenues in the first three months fell by a good twelve percent to 17.6 billion euros compared to the previous year. Operating profit before interest, taxes, depreciation and amortization (adjusted Ebitda), adjusted for special items, fell by 5.3 percent to almost 2.7 billion euros.
Last year the group recorded a profit of almost 1.4 billion euros, compared to almost 1.6 billion euros in the previous year. The goals for 2024 have been confirmed by BASF: The company is aiming for earnings before interest, taxes, depreciation and amortization (Ebitda) and special items of between 8.0 and 8.6 billion euros this year. A forecast for sales and net profit was not published.
jm/dpa
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business owners disappeared with millions of pesos; we tell you the case
What is the Estafa Grupo Peak? We tell you about this case in which owners of the company disappeared with millions of pesos in the pockets.
This scam from the Mexican company Group Peak became a trend this Wednesday, April 24, since its owners disappeared with the millions of pesos of investors.
Group Peak is a company originally from San Pedro Garza García, Nuevo León, located in Plaza UMA, on Manuel Gómez Morín Avenue 2005 and here we tell you about the scam of the owners of the company.
Grupo Peak Scam: company owners with millions of pesos disappear; nobody knows where they are
Los owners of Grupo Peak disappeared along with 800 million pesos, money from its more than 100 investors, according to a report published by Reforma yesterday, April 23.
These are businessmen Arturo de Jesús González Cantú and his partner Víctor Hugo Sepúlveda; Did they disappear from the face of the Earth? Nobody knows where the owners of Grupo Peak are.
And the owners of the royal company also eliminated any trace of them on the internet, such as their social networks.
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For his part, the commercial director of Grupo Peak, Elías Castro, said in an interview that they did not know if they would be able to enter the offices located in San Pedro Garza García.
“They have not informed anyone of anything, nor do we know who we are going to discuss our liquidation with. There were photos of the life they (González and Sepúlveda) led on social networks, but they already deleted everything, they disappeared and we are in the same boat as the group’s clients, nor did they liquidate anything. “They vanished.”
Elías Castro, commercial director of Grupo Peak
Likewise, he reported that no collaborator of Group Peak knows something about the owners since last April 17, when a virtual meeting was held.
Grupo Peak just thundered sending ALV to more than 100 investors.
These gentlemen seduced investors with high interest rates and high liquidity.
Please take care of your money and don’t invest with just any guy! 🚬🧐 pic.twitter.com/N4935ZNjec
— Don Porfifirio Díaz (@DonPorfifirio) April 19, 2024
Disappearance of owners of Grupo Peak with millions of pesos occurs after alleged bankruptcy of the company
It is worth mentioning that the disappearance of the owners of Grupo Peak It comes less than a week after the alleged bankruptcy of the company.
On April 17, the owners, together with lawyers from Torreón, Coahuila, informed the company’s collaborators and investors about the bankruptcy of Grupo Peak.
Posteriorly the owners disappeared along with the money of its investors, who totaled 800 million pesos.
For this reason, some of the collaborators of Group Peak and company lawyers have offered affected investors a “settlement.”
What did the Grupo Peak Scam consist of?
Group Peak is a Nuevo León company dedicated to increasing people’s wealth through a private investment fund.
This company not only had a presence in Nuevo León, but in the following states:
- CDMX
- Mexico state
- Jalisco
- Sonora,
- Quintana Roo
- Guanajuato
- Veracruz
- Michoacan
- Baja California Sur
- Sinaloa
- Coahuila
- Oaxaca
- Chiapas
- San Luis Potosi
- Tamaulipas
- Puebla
- Queretaro
Group Peak It offered multiple options so that people were encouraged to invest, promising its clients even a 20% return.
Thus, in a period of 3 years the company managed to accumulate nearly 800 million pesos of its investors; money that now disappeared along with the ownerswhich gave the name to the Peak Group burnout.
business owners disappeared with millions of pesos; we tell you the case
New Changes in Tax Refunds: How to Settle Tax Debts with Tax Bills
We are in the tax return period, which many employed citizens make it through Download form 730. This can be done independently or through a professional: in the first case, you must pay special attention because any mistake causes you to lose taxes to which you would be entitled.
When you file your tax return and thereby show the tax refund you are entitled to, the IRS processes a complete series of studies aimed at verifying that this right actually exists and the general financial situation of the taxpayer.
What happens is, above all, the presence of tax debt or pending tax, the so-called tax bills. The legislation that governs this process for the return of the amounts due, however, is changing and the Finance Agency has announced good news in this regard: here is what it contains.
If you have tax debts, you can pay them this way
There is something new about tax debt and something called tax bills. If a taxpayer finds himself in this situation and, at the same time, the 730 shows that he has a tax refund available through the tax return, then they can use a compensation method to pay your debts.
All this happens as a result of communication between the Revenue Collection Agency and the Revenue Agency: in fact, it is possible to use the tax refund to pay off your debts to pay To do this is enough the taxpayer accepts it this step and everything happens automatically. However, if the person refuses, the debt will be pending and the refund will usually be issued.
What happens if you don’t make a decision
There is also an old provision which seems to allow the payment of debtswith repayment automatic, without waiting for the will of the taxpayer. Today it only works that way, if the taxpayer does not respond to the compensation request within a certain time, the refund can be seized to pay a debt.
2024-04-25 21:58:32
#Shock #Income #Group #goodbye #tax #bills #money #straight #account #resist
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New Changes in Tax Refunds: How to Settle Tax Debts with Tax Bills