Skip to main content

Tag: CRU

People

Worley has announced that Tiernan O’Rourke will step down as the company’s Chief Financial Officer effective from 30 June 2025. O’Rourke is retiring from full-time work after a long and successful career culminating in nearly four years of dedicated service to Worley, though he intends to take on advisory and consulting activities in the private sector. Worley’s Chief Executive Officer, Chris Ashton, said: “It’s been an absolute pleasure to work alongside Tiernan since he joined the Worley team and see his decades of experience benefit the business in areas such as capital management, financial process improvements and talent development to name a few. I wish him well as he transitions away from the CFO role.”

People

BASF Corporation has appointed Heather Remley as its new president and chief executive officer, effective April 1, 2025. She takes the helm of the North American arm of BASF SE, one of the world’s largest chemical companies. Remley has a background in global leadership and operations. Most recently, she was president of BASF’s global engineering services division in Ludwigshafen, Germany. Before that, she led the company’s North American petrochemicals business as senior vice president in Houston. Since joining BASF in 2016, she has held key positions across the US, China, and Germany.

Protectionism casts a shadow over the new year

The start of a new year is a traditional time to take stock of the previous 12 months and look ahead to the next. In this regard, CRU’s most recent annual client survey, conducted at the end of December last year, makes interesting reading as to your own concerns for 2025 and beyond. There were numerous responses across commodity and financial sectors, and broadly based worldwide, if slightly skewed towards Europe and North America, but across all of these the key worry for the coming year clearly emerged as trade tariffs and protectionism. This is perhaps unsurprising, given incoming US president Donald Trump’s avowed intent to impose blanket 20% tariffs on all goods entering the US, and up to 60% on China. While most clients did not think tariffs would rise as much as some of Trump’s rhetoric might suggest, most expect rises of 5-10% across the board, and Asian businesses are most concerned. CRU’s most recent position paper on US tariffs highlights some of the internal political and legal challenges in implementing these, but does acknowledge that some rises will be inevitable, and may well produce the kind of reciprocal measures last seen in the previous Trump administration’s trade war with China and the EU in 2018.