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Werner Baumann named chairman of Bayer AG
25
Feb '16
Werner Baumann (left) and Dr. Marijn Dekkers
Werner Baumann (left) and Dr. Marijn Dekkers
Werner Baumann has been named as the new chairman of the board of management of Bayer AG, following the decision of the current CEO Dr. Marijn Dekkers to step down from April 30, 2016.

According to a Bayer press release, presently, Werner Baumann is a board member with responsibility for strategy and portfolio management and will retain these functions in the future.

Werner Baumann after studying economics at RWTH Aachen University and the University of Cologne joined Bayer in 1988.

His first duties were in the Corporate Finance Department in Leverkusen and was transferred to Bayer Hispania Comercial in Spain, to take up a position as controller, becoming assistant to the managing director in 1995.

One year later, he moved to Bayer Corporation in New York, latterly heading up the global Business Planning & Administration organisation of the Diagnostics Business Group.

In July 2002, Baumann returned to Germany to become a member of the executive committee and head of Central Administration & Organisation at Bayer HealthCare.

In October 2003, he was appointed a member of the board of management of the newly formed subgroup Bayer HealthCare AG, also serving as the company's labour director.

Werner Baumann has been a member of the board of management of Bayer AG since January 1, 2010 and prior to September 30, 2014, he served as Bayer AG's chief financial officer.

Effective October 1, 2014, he was appointed chief strategy and portfolio officer (CSPO) with responsibility for Corporate Development and Mergers & Acquisitions.

Between April 1 and December 31, 2015, Baumann was additionally chairman of the board of management of Bayer HealthCare AG. (AR)

Fibre2Fashion News Desk – India

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