Bayer CEO Wins Investor Backing as Roundup Talks Drag On
- About 93% of shareholders support Baumann at annual meeting
- Bayer has been negotiating possible settlement of litigation
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Bayer AG’s chief executive officer won a key confidence vote from shareholders, a show of support that eluded him last year and affirms his efforts to pull the company out of the Roundup crisis.
About 93% of shareholders gave their backing to Werner Baumann and other managers. The positive result is typically a foregone conclusion in corporate Germany, but the CEO lost the vote last year as shareholders revolted over the fallout of the $63 billion Monsanto takeover.