Bayer's chairman Werner Wenning to step down in April

Wednesday, 26. February 2020 12:32

German pharmaceutical giant Bayer AG's announced on Wednesday that the company's chairman Werner Wenning (pictured left) will step down at the annual shareholders meeting on April 28. The former PricewaterhouseCoopers (PwC) executive Norbert Winkeljohann, who has been serving as a member of Bayer’s supervisory board since May 2018, is set to succeed him.

"We have made and continue to make progress in handling the legal issues in the U.S. That’s why now is a good time to hand over to my successor. I had originally been intending to step down last year when I reached the standard age limit set forth in the Supervisory Board’s rules of procedure," Wenning said in a statement.

Departing chairman spent a whole career with Bayer, joining in 1966 while he served as the company's chief executive officer 2001-2016, mentoring current CEO Werner Baumann (pictured right). Since October 2012, he served as Bayer's board chairman.

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Breaking the News / GA