The shareholders from Bayer have expressed distrust of the top management of the agrochemical and pharmaceutical group. At the shareholders' meeting on Friday in Bonn, 55.5 percent of the share capital present voted against a discharge. This is a major setback for CEO Werner Baumann: In 2018, the Executive Board was still relieved with about 97 percent.
Baumann had the controversial takeover of the US competitor Monsanto This was a bad decision from the point of view of numerous major shareholders, not least because a wave of lawsuits in the United States threatens high compensation payments.
Bayer's share price has fallen sharply in recent months. Baumann defended the step to takeover The US competitor for about 63 billion dollars still considered correct and promised that the purchase will pay off in the long run. Some shareholders fear that Bayer itself could be bought up and smashed.
The vote has no compelling consequences. Whether Baumann's chair is wobbling is open. Many critics had denied the discharge, but understood this more as a pamphlet. Shareholder representative Ingo Speich from fund management company Deka, for example, despite his criticism of the Monsanto deal, pointed out that receding chairs at the top of the group would “increase the chaos even more”.
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