Bayer CEO rebuked over Monsanto acquisition

📆 4/29/2019 8:15 AM
📰 BDliveSA

⏱ Reading Time:
31 sec. here
2 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Majority of shareholders vote against absolving Werner Baumann and other managers of responsibility for their actions in the $63bn takeover in 2018

Bayer CEO Werner Baumann. Picture: REUTERS

That is where the German pharma and chemicals giant faces 13,400 lawsuits claiming that Monsanto’s Roundup weedkiller causes cancer. Even as it fights the cases, the company’s shareholders handed CEO Werner Baumann an unprecedented rebuke last week. Bayer’s board circled the wagons afterward, saying it maintains full confidence in Baumann. Several top investors consider the move a sign that Bayer is unwilling to address shareholder concerns, according to people familiar with the situation.The vote was non-binding, but other German CEOs have lost their jobs even after securing more support than Baumann.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Kraft Heinz’s Problems Run Deeper Than Its CEOKraft Heinz Co.’s problems stem not from a single manager but rather an ethos brought to the company by its private equity owner, 3G Capital, and championed by billionaire Warren Buffett. And so it remains to be seen whether replacing the packaged-food giant’s CEO is enough to right the ship, writes Tara Lachapelle for Bloomberg Opinion
Source: dailymaverick - 🏆 3. / 84 Read more »