Bayer Board Faces Investor Unrest Over CEO's 28% Bonus Boost
- Shareholder Strenger files motion protesting board actions
- Einhorn’s Greenlight sold its Bayer shares in first quarter
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Investor unrest is increasing after Bayer AG sweetened Chief Executive Officer Werner Baumann’s bonus even as court battles over Monsanto’s Roundup weedkiller have destroyed billions in the company’s market value.
Shareholder and corporate governance expert Christian Strenger, a former CEO of DWS Investment, filed a motion on Thursday proposing that members of the supervisory board not be discharged of responsibility for their actions last year. Backing from fellow investors would amount to a vote of no confidence for the board, which approved a 28 percent increase in Baumann’s bonus and has stood behind him even as Roundup lawsuits piled up.