What is BASF's CoreShift program aiming to achieve by 2029, and what is the baseline year for measuring progress?

BASF's CoreShift program aims to achieve up to a 20% net cash fixed cost reduction in its core businesses by 2029, compared with the 2024 baseline. This initiative is part of the next phase of BASF’s Winning Ways strategy and focuses specifically on cost savings within the company’s core businesses — chemicals, materials, industrial solutions, and nutrition and care — which collectively generate around €40 billion in sales.

How does BASF plan to implement the CoreShift program, and who leads the dedicated office overseeing it?

BASF plans to implement the CoreShift program through a global, cross-unit transformation approach that includes further simplification of operations and organization, globally harmonized business processes, standardized IT solutions, and increased use of AI across the company. To drive implementation, BASF has established a core transformation office led by Julia Raquet, who reports directly to Markus Kamieth, chairman of BASF. The office oversees cross-unit transformation projects across all core businesses, service units, and corporate center units.

BASF targets 20% reduction in core businesses costs by 2029

May 20, 2026

BASF SE launched the CoreShift program targeting up to 20% net cash fixed cost savings in core businesses by 2029. The transformation includes operational simplification, standardized IT, and increased AI usage across its €40 billion chemical portfolio.

chemweek

BASF targets 20% reduction in core businesses costs by 2029

chemweek

2026-05-20

BASF targets 20% reduction in core businesses costs by 2029

BASF targets 20% reduction in core businesses costs by 2029

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