BASF Coatings is announcing Jens Luehring will become chief executive officer when the business unit becomes independent of the larger company as part of a deal with the Carlyle Group.
The transaction, announced in October 2025, involves the sale of BASF’s automotive OEM coatings, automotive refinish coatings and surface treatment businesses. BASF and Carlyle, together with the Qatar Investment Authority, agreed to an enterprise value of €7.7 billion (about C$11.3 billion).
BASF will retain a 40% equity stake and expects pre-tax cash proceeds of about €5.8 billion (about C$8.5 billion) at closing. The deal remains subject to regulatory approvals and is expected to close in the second quarter of 2026.
Dr. Uta Holzenkamp, president of BASF Coatings, will remain in charge until closing and will support the transition.
According to a press release, Luehring as an executive with more than 20 years of experience in transformation, carve-outs, mergers and acquisitions and finance. He previously worked in the industrial and medical gases sector and led the carve-out and establishment of legacy Linde’s Americas business as an independent, private equity-backed company. He has held chief executive and chief financial officer roles for more than a decade and began his career in investment banking.
Luehring said: “I am excited to take on the role of CEO of BASF Coatings at such a pivotal moment. Together with the strong global team, we will build on the company’s leading market positions, its innovative technology portfolio and its strong customer relationships to accelerate growth and successfully transition into a standalone company.”
Holzenkamp said: “BASF Coatings has developed a strong foundation, including excellent customer relationships, a global team and a leading technology base. Jens Luehring brings extensive experience in building and transforming standalone businesses and is the right person to lead the company into its next phase.”
The coatings business generated about €3.8 billion (about C$5.6 billion) in sales in 2024.
