Dr. Dekkers to be new CEO of Bayer from Oct 2010
Werner Wenning (62), Bayer AG CEO since 2002, is to extend his contract of service by eight months to September 30, 2010, a few weeks before his 64th birthday. In its meeting on Tuesday, Bayer's Supervisory Board appointed Netherlands-born Dr. Marijn E. Dekkers (51), currently President and CEO of U.S. laboratory equipment manufacturer Thermo Fisher Scientific Inc., to succeed Wenning as CEO from October 1, 2010. Dekkers will join the Bayer Management Board on January 1, 2010. In a transition phase he will also serve as CEO of Bayer HealthCare, succeeding Arthur J. Higgins (52) who has decided to leave the company during the first half of 2010 for personal reasons. Higgins was appointed Chairman of the Bayer HealthCare Executive Committee on July 1, 2004, and has been CEO of Bayer HealthCare AG since January 1, 2006.
Following the Annual Stockholders' Meeting on April 30, 2010, the present CFO Klaus Kühn will take early retirement at the age of 58. The Supervisory Board has appointed Werner Baumann (46), currently a member of both the Board of Management and Executive Committee of Bayer HealthCare, to be Kühn's successor. Baumann will also join the Bayer Management Board on January 1, 2010.
“Mr. Wenning has very successfully steered our company for the past seven years. We are grateful to him for consenting to extend his contract of service, thereby ensuring both continuity and an adequate period of transition in these economically difficult times,” stated Dr. Manfred Schneider, Chairman of the Bayer Supervisory Board. “The Supervisory Board believes that, in Dr. Dekkers, it has found a highly qualified successor to steer the fortunes of our company. His international experience, goal-oriented approach and proven management skills are very convincing qualities.”
Thomas de Win, Chairman of the Central Works Council of Bayer AG and Vice Chairman of the Supervisory Board, also expressed his satisfaction with the succession procedure. “A structured transition has been ensured by extending Mr. Wenning's contract of service. From the employees' point of view, we would have welcomed a longer extension as Mr. Wenning has worked closely with employee representatives over the past years to implement tremendous changes successfully and in a socially responsible manner. Following my first meeting with his successor, I am very confident that Dr. Dekkers will continue this proven approach. Bayer's employees will support him to the best of their ability.”
Commenting on the retirement of CFO Klaus Kühn, Dr. Schneider said: “We greatly regret the departure of Klaus Kühn who is a highly competent and respected CFO. However, we respect his decision to pursue a new route in life.”
Arthur J. Higgins is also leaving Bayer at his own request. “Over the past five years, Mr. Higgins has played a key role in realigning and strengthening our health care business. For this he deserves our thanks and appreciation,” said Werner Wenning.
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