Germany-based chemicals company BASF has promoted one of the co-heads of its corporate venturing unit.
Josef Wünsch (pictured), managing director of BASF Venture Capital (BVC) since July 2006, is now senior vice-president of modelling, formulation research and technology incubation at BASF.
Dirk Nachtigal, the other co-managing director of BASF Venture Capital for the past 10 years, has sole control.
Wünsch said: "As of January 1st I got a promotion to bring all the methods formerly run by CIBA, Cognis and Engelhard and various BASF units together under my leadership. BVC will [be] run solely by my old partner Dirk Nachtigal."