The Supervisory Board of Bayer AG has unanimously extended the contract of Werner Baumann, Chairman of the Board of Management, until April 30, 2024. Otherwise, his contract would have expired at the 2021 Annual Stockholders’ Meeting. Baumann has been Chairman since May 2016.
Baumann is expected to successfully advance Bayer’s further development. In concrete terms, this means overcoming the effects of the coronavirus crisis, setting the course for profitable growth following the patent expirations of key products in the Pharmaceuticals Division, expanding the leading position of the Crop Science business through innovation, digitization, and sustainability, accelerating growth in Consumer Health, systematically continuing the efficiency and structural programs, and handling the glyphosate litigation in a satisfactory and economically viable manner so that potential future cases can be resolved efficiently.
Bayer announced that progress has been made in developing a revised class action plan to manage and resolve potential future Roundup™ claims. The details of the revised class plan will be finalized over the coming weeks.
Werner Baumann, born in Krefeld, Germany, on October 6, 1962, studied economics in Aachen and Cologne, both Germany, and joined the Corporate Finance Department of Bayer AG, Leverkusen, in 1988. In 1991, he transferred to Bayer Hispania Comercial in Barcelona, Spain, to take up a position as controller, becoming assistant to the managing director in 1995. In 1996, he moved to Bayer Corporation in Tarrytown, USA. In 2002, Baumann returned to Germany to become a member of the Executive Committee and Head of Central Administration & Organization at Bayer HealthCare. In 2003, he was appointed a member of the Board of Management of the newly formed subgroup Bayer HealthCare AG. Baumann was named Chief Financial Officer of Bayer AG effective January 1, 2010. From October 1, 2014, until he was appointed Chairman of the Board of Management, he was Chief Strategy and Portfolio Officer and also responsible for the European, Middle East, and Africa Region. Baumann became Chairman of the Board of Management of Bayer AG on May 1, 2016. He has also served as Labor Director of Bayer AG and Chief Sustainability Officer since January 1, 2020.
- Bayer AG, Leverkusen, Germany