The chemical group Bayer has apologised to his shareholders for the most recent price losses. “We are very sorry,” said the Chairman of the Supervisory Board Werner Wenning to the beginning of the annual General meeting of the group in Bonn. Chairman of the Board Werner Baumann added that in view of the losses there was “nothing to sugarcoat”. Long-term progress was the purchase of US competitor Monsanto, however, said Baumann.
Bayer Monsanto in June 2018, despite several ongoing court had adopted procedure. Several Cancer patients had sued Monsanto because of the controversial glyphosate-containing plant protection product Roundup on damages. You can see the product as the cause for their disease. Two U.S. courts sentenced Monsanto to pay compensation of more than 150 million euros, and the price of Bayer shares fell by more than a third. Bayer has appealed against both judgments of the remedies. Overall, the group sees in the USA now, however, with more than 13,000 product liability lawsuits faced.
Bayer – protests against the chemical giant After the Takeover of the glyphosate producers Monsanto is Bayer in the criticism. Environmentalists took advantage of the annual General meeting in Bonn, Germany, to demonstrate against pesticides. © Photo: Oliver Berg/dpa
Baumann back to his attitude and repeated in Bonn, stating that glyphosate “when used properly is a safe product”. With a view to the cancer-stricken plaintiff, Baumann said: “glyphosate-based products are not the reason for their serious illnesses.” Several major shareholders of the group had been warned because of the legal risks prior to Acquisition, Monsanto. This is also why some of them announced prior to the annual General meeting resistance. The traditionally high approval value for the Board could break in the meeting, therefore, in the case of the shareholder.
at the beginning of the annual General meeting had gathered around 700 protesters in front of the Congress centre. Farmers, beekeepers and representatives of the youth movement Fridays for Future criticized, among other things, the use of genetic engineering and the environment to harmful chemicals. The Arbeitsgemeinschaft bäuerliche Landwirtschaft criticized large corporations such as Bayer drove farmers in dependencies, and harm long-term agriculture.
