By Cristina Roca

BASF SE (BAS.XE) said Monday that it is reducing the size of its executive board as part of an efficiency drive, and that board member Sanjeev Gandhi is leaving the company.

The German chemicals company said Mr. Gandhi will leave at his own request at the end of the year, and that its executive board will have six instead of seven members starting Jan. 1, 2020.

BASF in June launched a plan to overhaul the company and boost profitability.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

October 21, 2019 11:17 ET (15:17 GMT)

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