Contract for CEO Dr. Marijn Dekkers extended to the end of 2016
Werner Baumann appointed as Chief Strategy and Portfolio Officer / Johannes Dietsch to be Chief Financial Officer
Leverkusen, June 3, 2014 – At its meeting today, the Supervisory Board of Bayer AG took a number of decisions pertaining to the future composition of the company's Board of Management.
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 (56) cited family reasons for extending his contract only until the end of 2016.
To ensure continuity in key aspects of Bayer's future development, the Supervisory Board has appointed Werner Baumann (51), currently Chief Financial Officer (CFO), as Chief Strategy and Portfolio Officer (CSPO) effective October 1, 2014. Mr. Baumann's existing contract runs until December 31, 2017.
Also effective October 1, 2014, Johannes Dietsch (52), currently Senior Bayer Representative and CFO for Greater China based in Shanghai, will assume the position of Chief Financial Officer. He will be appointed to the Board of Management of Bayer AG effective September 1, 2014.
"We are pleased that Dr. Dekkers, under whose leadership Bayer has continued its very positive development, will remain with us for a further two years. At the same time, today's resolutions lay the foundation for the sustained future development of our company and see us well placed in the long term in the areas of strategy and portfolio management," said Werner Wenning, Chairman of the Supervisory Board.
Werner Baumann was born on October 6, 1962, in Krefeld, Germany. After studying economics at RWTH Aachen University and the University of Cologne, he 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, latterly heading up the global Business Planning & Administration organization 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 & 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. Werner Baumann 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.
Johannes Dietsch was born on January 2, 1962, in Wermelskirchen, Germany. After graduating from high school, he joined Bayer as a commercial trainee. On completion of his training in 1984, 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., latterly as Chief Financial Officer in finance and administration. In 2001 Dietsch 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.
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