Bayer chairman quits as Roundup settlement talks progress By Ludwig Burger 4 Min Read FRANKFURT (Reuters) - Bayer BAYGn.DE Chairman Werner Wenning, one of the architects of a $63 billion takeover deal that has left the German crop protection company fighting costly lawsuits, will step down in April, it said on Wednesday.
Full Answer
Will investors lose patience with Bayer CEO Baumann?
Investors, who will decide whether to keep Baumann in his role at a shareholder meeting in April, could have lost patience years ago. Having overpaid for Monsanto, Bayer lost more than 30 billion euros of market value in 2019 due to lawsuits from thousands of Americans who said that the U.S. firm’s Roundup weedkiller gave them cancer.
Why did Bayer lose 30 billion euros in 2019?
Having overpaid for Monsanto, Bayer lost more than 30 billion euros of market value in 2019 due to lawsuits from thousands of Americans who said that the U.S. firm’s Roundup weedkiller gave them cancer. A partial settlement in 2020 for a relatively modest $10 billion should thus have been a source of relief.
How much is Bayer really worth?
Add in 13 billion euros for its Reckitt-like (RKT.L) consumer healthcare unit, and Bayer’s enterprise value would be 138 billion euros. Take off 39 billion euros of net debt and pension liabilities, and 9 billion euros to settle Roundup claims, and its equity could be worth 90 billion euros, 29 billion euros more than its current value.
Are Werner Baumann’s days at Bayer numbered?
LONDON, March 29 (Reuters Breakingviews) - Werner Baumann’s days at the helm of Bayer (BAYGn.DE) are numbered. Under his watch, the 61 billion euro pharmaceuticals-to-agrochemicals group has handed shareholders a total return of minus 25%, mainly due to the toxic side-effects of Baumann’s $62.5 billion acquisition of Monsanto in 2018.
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How much does the CEO of Bayer make?
$6,218,000Salary Werner Baumann 2020: As the Chairman of the Management Board and Chief Executive Officer of Bayer AG, the total compensation of Werner Baumann at Bayer AG is $6,218,000.
Who is Bayer's CEO?
Werner Baumann (May 1, 2016–)Bayer / CEOWerner Baumann (born 6 October 1962) is a German businessman and chief executive officer (CEO) of Bayer, succeeding Marijn Dekkers on 1 May 2016.
Who is the CEO of Roundup?
Daniela Labi (she/her)
Who owns Bayer Monsanto?
BayerBayer already became the sole owner of Monsanto Company on June 7, 2018. One of the requirements of the U.S. Department of Justice was that Bayer and Monsanto remain separate companies and continue to operate separately until completion of these divestments to BASF, and that has now taken place.
What is Bayer net worth?
Bayer Group is a chemical and pharmaceutical company, headquartered in Leverkusen, Germany. In 2021, Bayer had total assets of some 120 billion euros.
What is the average settlement for Roundup?
What is the average payout for a Roundup lawsuit? The average payout for an individual who has been diagnosed with non-Hodgkin's lymphoma or other cancers is between $5,000 to $250,000 in compensation. One report stated that the average amount per client suffering from cancer is $160,000.
How much has Bayer paid out in lawsuits?
Under the terms of the proposed settlement, Bayer would pay $10.9 billion. Most of that money ($9.6 billion) will be paid to resolve the existing 125,000 claims involving exposure to Roundup before February 2021.
How many lawsuits are against Bayer?
Bayer faces more than 780 lawsuits over fluoroquinolones like Cipro and Avelox. Cipro lawsuits and Avelox lawsuits say the antibiotics caused aortic injuries.
Is Bayer a German or American company?
Bayer, in full Bayer AG, German chemical and pharmaceutical company founded in 1863 by Friedrich Bayer (1825–80), who was a chemical salesman, and Johann Friedrich Weskott (1821–76), who owned a dye company.
Who is on the Board of Directors for Bayer?
Bayer's key executives include Werner Baumann and 32 others.Werner Baumann. Chairman of the Board of Management (CEO), Chief Sustainability Officer.Sarena Lin. Member of the Board of Management, Chief Transformation and Talent Officer.Heiko Schipper. ... Rodrigo Santos. ... Stefan Oelrich. ... Wolfgang Nickl. ... Alok Kanti. ... Oliver Zühlke.More items...
Where is the headquarters of Bayer?
Leverkusen, GermanyBayer / HeadquartersBayer is a worldwide chemical and pharmaceutical company headquartered in Leverkusen, Germany. It was founded in Barmen, Germany in 1863.
Who are the shareholders of Bayer?
Top 10 Owners of Bayer AGStockholderStakeShares ownedMcGinn Investment Management, Inc...0.01%339,267Altrius Capital Management, Inc.0.01%302,988BlackRock Advisors LLC0.01%285,828Strategic Advisers LLC0.01%292,9206 more rows