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Bayer makes board changes, CEO to step down at end of 2016

4:50 PM MDT | June 16, 2014 | —Natasha Alperowicz

Dekkers: Contract extended by two years.

Bayer’s supervisory board has made a number of changes to the company’s management board. Meanwhile, the tenure of Marijn Dekkers as chairman and CEO has been extended by just two years, until the end of 2016, from the end of his initial five-year period. Dekkers cites family reasons for the shorter-than-expected extension.

Bayer says that, to ensure continuity in key aspects of the company’s future development, the supervisory board has appointed Werner Baumann, current CFO, as chief strategy and portfolio officer, effective 1 October 2014. Baumann’s existing contract runs until 31 December 2017. Also effective 1 October 2014, Johannes Dietsch, currently senior Bayer representative and CFO/Greater China and based in Shanghai, will assume the position of CFO. He will be appointed to the Bayer management board effective 1 September 2014.

The changes “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,” says Werner Wenning, chairman of the Bayer supervisory board.

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