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Baumann Confirmed As Bayer's New CEO

This article was originally published in Scrip

Executive Summary

Bayer has confirmed that its head of strategy and portfolio management, Werner Baumann, is to be its new CEO effective May 1, 2016. Current CEO Marijn Dekkers has proposed that his contract be dissolved on April 30 following the annual stockholders meeting. His contract was originally set to run until Dec. 31, 2016. Dekkers had signaled his intention to step down as CEO this year back in 2014. Baumann has been with Bayer since 1988 in a variety of roles including chief financial officer, and was credited with playing a key role in the integration of Schering following the 2006 merger with Bayer. His name had been widely linked with the top job at Bayer since Olivier Brandicourt's departure to head up Sanofi a year ago.

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