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Bayer's CEO Expected to Face Tight Shareholder Vote on Friday

  • Baumann said to have 50-50 chance of losing shareholder vote
  • Growing frustration over Monsanto deal dominates meeting
Werner Baumann speaks at the AGM on April 26.
Werner Baumann speaks at the AGM on April 26.Photographer: Jasper Juinen/Bloomberg
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Bayer AG Chairman Werner Wenning threw his support behind embattled Chief Executive Officer Werner Baumann, defending the Monsanto takeover as shareholders upset with the deal air their concerns ahead of a crucial confidence vote.

Wenning and his protege Baumann sought to reassure stockholders even as hundreds of protesters outside of the annual meeting erected the CEO’s effigy from bales of hay and shouted “shame on you.” Inside, investors demanded explanations, with one likening the company to “a pile of broken glass.”