Annual General Meeting Transitions to Digital Platform - BASF's Traditional Gathering Now Held Virtually - Virtual Gathering for BASF's Annual General Meeting
Ready for a change? So is BASF, the largest employer in Rhineland-Palatinate. After two years of bustling in-person events, they're diving headfirst into the digital landscape. On May 2, 2025, the BASF Annual General Meeting will go entirely virtual. And they're not just testing the waters—they're diving in with both feet!
Since last July, new legal requirements for virtual meetings have sprung up. BASF wants to gauge the effectiveness of these guidelines in practice, learning from the experiences of other companies. "We can learn a lot from our peers," remarks Evelyn Unger of the German Press Agency's Investor Relations department.
But a virtual event isn't a walk in the park. Steffen Hamm, head of event technology in Ludwigshafen, is well aware of the challenges. Unlike during the pandemic, when questions were submitted in advance, shareholders can now ask questions live—just like at an in-person event. "A virtual event places high demands on technology and organization," Hamm stresses.
To ensure a smooth operation, significant investments have been made. Over 300 additional network cables, totaling more than a kilometer, have been laid. Spotlights and monitors abound—150 and 70, respectively—and the stage has been built with several tons of wood from BASF's in-house carpentry workshop. An LED wall and cutting-edge projection technology promise crisp visuals.
To take part actively as a private investor, you'll need an internet-enabled device with a camera, microphone, and a reliable internet connection. Spectators can catch the action on their smartphones. Despite an increase in digital participation (over 40% of registrations are now online), there's criticism, admits BASF. In particular, private investors have voiced concerns about whether the new format might hinder their involvement.
But worry not! The right to speak and vote remains the same in both formats, assures Unger. Additionally, BASF Investor Relations is collaborating closely with the legal department, the company's data protection officer, and a seasoned service provider to ensure compliance with all legal requirements. By the time the lights go out, BASF plans to evaluate the pros and cons of the digital shift.
Deutsche Bank is also following suit, hosting their Annual General Meeting as a purely online event on May 22. In the future, they plan to hold alternating in-person and virtual meetings every four years. In 2026, this Frankfurt-based DAX company is planning their first in-person Annual General Meeting since the pre-Corona year 2019. Shareholder representatives, however, voice skepticism.
Due to shareholder resistance, Siemens has to hold their annual general meeting in 2026 as an in-person event again. Over 29% of shareholders at this year's virtual meeting rejected the management's proposal to forgo in-person events for the next two years, falling short of the required three-quarters majority.
Flexibility and Transparency
BASF offers a live webcast of the entire meeting, making it accessible to shareholders across time zones and minimizing travel-related carbon emissions. It's all part of BASF's net-zero roadmap. Through these hybrid meetings, BASF promotes scalable, low-emission solutions and aligns with their broader climate advocacy.
Engagement and Participation
BASF strives to ensure equal engagement between in-person and virtual attendees through real-time Q&A and voting on digital platforms. Although specific tools aren't detailed, the shift to digital elements broadens the playing field for shareholders who may otherwise find it difficult to attend the in-person meetings.
- BASF is investing in technology and organization to ensure a smooth operation of their entirely virtual Annual General Meeting, which includes the use of network cables, monitors, LED walls, and projection technology.
- As private investors, you'll need an internet-enabled device with a camera, microphone, and a reliable internet connection to take part actively in the virtual meeting.
- In addition to the virtual meeting, BASF offers a live webcast to make the entire meeting accessible to shareholders across time zones, which contributes to their net-zero roadmap.
- BASF's shift to hybrid meetings promotes scalable, low-emission solutions and aligns with their broader climate advocacy, offering digital elements to broaden the playing field for shareholders who may find it difficult to attend in-person meetings.
