BASF (BASFn.DE) Chief Executive Martin Brudermueller has been chosen to take over as head of the supervisory board of Mercedes-Benz (MBGn.DE) next year, the carmaker said on Wednesday.
He would succeed Bernd Pischetsrieder, who will not be standing for another term after his current one ends in 2024.
"In order to ensure a long-term, orderly succession plan, Bernd Pischetsrieder proposed Martin Brudermueller as his successor for the post of Chairman of the Supervisory Board at the constituent meeting of the Supervisory Board," said Mercedes.
A vote to confirm Brudermueller's appointment will take place after the 2024 shareholders meeting, said the company.
Brudermueller has been Chief Executive of BASF since 2018.
The FAZ daily had first reported on the move.
