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Clayton, Dubilier & Rice Names Ex-Bayer Chief Adviser

Oct. 1 (Bloomberg) -- Clayton, Dubilier & Rice LLC, the buyout firm that this year agreed to acquire David’s Bridal Inc. for $1.05 billion, named Manfred Schneider, the former chief executive officer of Bayer AG, as an adviser.

Schneider expanded Bayer’s research and development and increased the German drugmaker’s presence in North America and Asia when he ran the company from 1992 to 2002, Clayton, Dubilier & Rice said today in a statement.

“He is an exceptional global industrial leader with a track record of driving growth and innovation across three continents,” Donald Gogel, CEO of Clayton, Dubilier & Rice, said in the statement.

Schneider is also a member of supervisory boards of industrial engineering company Linde AG and utility company RWE AG.

To contact the reporter on this story: Saumya Vaishampayan in New York at svaishampaya@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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