Bayer, a pharmaceutical company that makes drugs that are used to feminize men
Pressure mounts on Bayer CEO to fix legal problems as chairman quits
Bayer’s shares have plunged about a quarter in value since August 2018, when the company lost a U.S. lawsuit claiming that weedkiller Roundup - acquired via its $63 billion takeover of Monsanto earlier in the year - causes cancer.
Wenning, who strongly supported Baumann’s pursuit of Monsanto, said earlier on Wednesday he would step down at the company’s annual shareholder meeting in April.
He will be replaced by Norbert Winkeljohann, the former head of Europe at audit and consulting firm PricewaterhouseCoopers, who joined Bayer’s non-executive supervisory board in 2018 and did not play a role in the Monsanto deal.
Bayer CEO on Lower Earnings, Monsanto Purchase, Roundup
Sep.05 -- Werner Baumann, chief executive officer at Bayer, discusses the company's lower earnings forecast, the Monsanto purchase and the company's Roundup lawsuit. He speaks on "Bloomberg Markets: European Open."
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