Bayer CEO join Unilever as chairman

Bayer CEO to join Unilever as chairman

6:57 AM, 26th February 2016
Bayer CEO to join Unilever as chairman
Dr Marijn Dekkers, CEO of Bayer AG. (File photo)

LEVERKUSEN, GERMANY: Bayer AG said that its CEO Dr Marijn Dekkers proposed to dissolve his contract, effective April. Werner Baumann, director in charge of strategy and portfolio management, will takeover as new chairman and CEO, effective May, the company said.

Dekkers, whose contract was upto 31 December 2016, has been chairman of Bayer since 1 October, 2010, the company said.

In a separate announcement, Unilever Plc said that Dekkers will join Unilever as chairman, succeeding longtime current chairman Michael Treschow, who has approached the maximum tenure of nine years. Treschow will retire and leave the board in April.

When asked about his next step, Dekkers said, “Unilever is a great business, with great brands and an unequalled global reach.”

“Following rapid implementation of the realignment under Dekkers’ leadership, Bayer is now entering a new era as a pure life science company. Now is the right time to hand on responsibility for managing the company,” said Werner Wenning, chairman, supervisory board, Bayer AG.

“In Baumann, Bayer has a strong and experienced management personality from within its own ranks. In his various positions at Bayer and as a member of the management board since 2010, he has contributed substantially to strengthening and realigning the company,” said Wenning.

“We have been closely involved in the changes of recent years. In Baumann, Bayer has chosen a manager who is intimately familiar with the company,” said Oliver Zuhlke, chairman, Bayer central works council and vice chairman of the supervisory board.

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