Bayer CEO to Step Down at the End of 2016

Citing family reason, Marijn Dekkers, CEO of Bayer AG, will step down at the end of 2016. To ensure continuity in key aspects of Bayer's future development, Bayer’s supervisory board has appointed Werner Baumann, currently chief financial officer (CFO) as chief strategy and portfolio officer, effective October 1, 2014. Bauman’s existing contract runs until December 31, 2017.

“In line with his own wishes, the contract of Dr. Marijn Dekkers will be extended by just two years on expiration of the initial five-year period. Dekkers cited family reasons for extending his contract only until the end of 2016,” said Bayer in a company statement.

Also effective October 1, 2014, Johannes Dietsch, currently Senior Bayer Representative and CFO for Greater China based in Shanghai, will assume the position of CFO. He will be appointed to the board of management of Bayer AG, effective September 1, 2014.

Baumann joined Bayer in 1988. His first duties were in the Corporate Finance Department in Leverkusen. 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. A year later, Baumann moved to Bayer Corporation in Tarrytown, New York, heading up the global Business Planning & Administration organization of the Diagnostics Business Group. In July 2002, he returned to Germany to become a member of the Executive Committee and Head of Central Administration & Organization 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 Labor Director. As a member of the board of management and Labor Director of Bayer HealthCare Pharmaceuticals, Berlin, Germany, from 2006 through September 2009, he actively participated in this company's integration into the subgroup. He has been a member of the board of management of Bayer AG since January 1, 2010. He is currently responsible for Finance and for the Europe region.

Dietsch joined Bayer as a commercial trainee and completed his training in 1984, after which he held a number of management positions in various departments within the company. He gained several years of overseas experience during two assignments at Bayer Japan, Ltd., as CFO in finance and administration. In 2001, he was made Head of Corporate Finance in the Finance Division, becoming Head of Finance in the Corporate Center of Bayer AG on July 1, 2002. His area of responsibility included treasury, corporate finance, financial controlling, asset management pensions, mergers & acquisitions and taxes. In September 2011, he was appointed as Senior Bayer Representative and CFO for Greater China at Bayer China in Shanghai.

Source: Bayer

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