Bayer Begins Search for New CEO

Sources have indicated that Bayer is seeking out a new CEO, possibly before the end of Warner Baumann’s current term as CEO is due to end in 2024. The reports signal that Baumann may be leaving his position early, with plans to name a candidate for the role by next April’s shareholder meeting. This comes after facing a vote of no confidence due to the fallout of Bayer’s acquisition of Monsanto and the subsequent lawsuits about the controversial weedkiller Roundup.

According to Fraiser Kansteiner, “While Baumann came out of that vote unscathed, shareholder discontent flared up again earlier this year when Temasek—a key player behind Bayer’s $63 billion Monsanto deal—told the company’s chairman Winkeljohann it was seeking a regime change. Specifically, the investor requested a no-confidence vote in Baumann or a vote against ratifying Bayer’s management’s performance ahead of the company’s annual meeting in April.”

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(Source: Fierce Pharma, September 13^th, 2022)