Bayer shareholders have expressed to the leadership of the agricultural chemical and pharmaceutical group, the distrust. At the annual General meeting on Friday in Bonn, 55.5 percent of the present share capital voted against a relief. This is a major setback for the group chief Werner Baumann: in 2018, the Board of Directors had been relieved of around 97 percent.
Baumann had pulled the controversial Acquisition of the US competitor Monsanto in the past year – from the point of view of many large shareholders, this was a bad decision, because due to a wave of lawsuits in the United States high damages threaten.
Despite the vote to defeat the Bayer CEO Werner Baumann backing from the Supervisory Board. The panel was informed early Saturday morning, to stand “behind the Board”.
The stock price of Bayer’s favor in the past few months. Baumann defended the step, the Acquisition of a U.S. competitor for approximately 63 billion dollars however, as a right and promised that the purchase will pay off in the long run. Some shareholders fear that Bayer itself could be and smash buys.
The vote has no mandatory consequences. Whether Baumann’s chair wobbles now, is open. Many critics had denied the relief to be understood but rather as a lesson. Shareholder representative Ingo Speich, the Fund company Deka about pointed, in spite of his criticism of the Monsanto Deal, the fact that a chairs back-to-top management “would increase the Chaos”.
