As a result of the court cases surrounding the weed killer glyphosate, Bayer's pharmaceutical and agrochemical group is exerting pressure on corporate management.
Now the German Protection Association for Securities Ownership (DSW) demands that the voting on the discharge of the Management Board and the Supervisory Board, which is due to take place at the General Meeting on Friday, be postponed. There are already two motions for the shareholder meeting to vote against the discharge of the Executive Board.
"Due to the current situation, it is not possible for the shareholders to make a conclusive, serious decision on the discharge of the Management Board and Supervisory Board," said DSW Chief Executive Marc Tüngler, according to a statement in Dusseldorf.
"The Bayer leadership is constantly pointing to the long-term usefulness of the Monsanto acquisition, while shareholders see the massive loss in their deposits and in the reputation of the Bayer Group."
Bayer acquired Monsanto last year for more than $ 60 billion (€ 53 billion). Experts accuse the group of having underestimated the risks of buying in the face of lawsuits alleging cancer risks of glyphosate-containing weed killers.
In a statement on the countermotions for the Annual General Meeting, Bayer emphasizes that the Management Board has also "examined the risks associated with the glyphosate business" in the acquisition of Monsanto. The risk assessment clearly showed that the glyphosate-containing products are safe when used properly.
Meanwhile, Bayer has lost two lawsuits in the US, in which the plaintiffs were awarded compensation of nearly $ 80 million (71 million euros). Bayer shares have lost more than a third of their value since the first verdict. The group wants to appeal in both cases. Overall, there are already 11,000 complaints.