ACS
NEWS
NEW C&EN CHIEF Rudy Baum will succeed Madeleine Jacobs as C&EN editor-in-chief
T
HE ACS BOARD OF D I R E C -
tors last week appointed Rudy M. Baum editor-inchief of Chemical & Engineering News, effective Jan. 1,2004. He will succeed Madeleine Jacobs, who will become the ACS executive director on that date. Baum, 50, joined C & E N in 1980. He spent 14 years as a science reporter in C&EN's West Coast Bureau before returning to Washington, D.C., in 1994 to head C&EN's science, technology, and education department. Members of the chemical
community are enthusiastic about the appointment. "Rudy's breadth of knowledge across both industry and academia will be a huge asset as he takes on his new role," comments Richard M. Gross, Dow's corporate vice president for research and development and new business growth. "His curiosity and dedication to excellence will continue to drive C & E N to even higher levels in the future." Harry B. Gray, professor of chemistry at Caltech, tells C & E N t h a t Baum is "an ab-
BUSINESS
CHEMISTRY GETS A NEW CHAMPION New BASF logo emphasizes 'chemical company' identity
G
ERMAN CHEMICAL GIANT
BASF is a n y t h i n g b u t flashy. But last week, the
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company took measured steps to add vivid color to its logo— last modified in 1985—while at the same time adopting tougher internal yardsticks for its own performance. The colorful new logo also goes against the current general reluctance of companies to be associated with chemicals. BASF says it is "The Chemical Company" —and proud of it, observed Chairman Jiirgen Hambrecht at a press conference last week to introduce the new logo. During the years 1981-2000, the chemical industry grew at a faster rate than did world gross domestic product, Hambrecht says, but "these good times are over. According to our prognosis for 2001 through 2015, we expect growth to be lower than that of world GDP." Companies will need to take market share
solutely spectacular choice for editor-in-chief. I read everything he writes, because he knows good chemistry and tells it like it is in a very engaging way. His love for chemistry always comes through loud and clear. I can't wait to read his inaugural editorial." "Rudy is brilliant and a born leader," Jacobs says. "He has a deep passion for chemistry and an understanding of where the discipline is headed. The ACS Board of Directors made a great choice." Baum has a B. A. in chemistry from Duke University (1975) and spent a year at Georgetown University Medical School. He began his career at ACS in 1976 in the Education Division, where he worked in continuing education programs.-LINDA RABER
away from others if they don't want to fall behind, he added. To ensure profitable growth, BASF will adopt, as a companywide performance indicator, earnings before interest and taxes—very roughly, operating profits —after taking into account its cost of capital. In other words, all the company's businesses will be expected to cover the cost of capital, currently 10% on operational assets, and make a premium above that. That is a challenging target, Hambrecht noted, given that over the past three years, "nobody in the chemical industry has even covered their cost of capital." One result: After a period of heavy investment, BASF's future capital expenditures will be "considerably lower" than the rate of depreciation of its assets. Growth will still be possible b o t h for BASF and for the rest of the industry, H a m b r e c h t said, because global capacity utilization is only about 80%. That leaves a fair amount of unused capacity to cover future growth.—
"C&EN is a unique publication thatplays a vital role at ACS. I look forward to continuing the tradition of excellence fostered by Madeleine Jacobs and the editors who preceded her."
PATRICIA SHORT
C&EN / DECEMBER
15. 2003
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