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Temasek Is Said to Push for Removal of Bayer CEO Baumann
- Singapore investor joins others in seeking management shakeup
- Bayer still trying to rebound from costly Monsanto acquisition
Werner Baumann
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Bayer AG’s long-time investor Temasek Holdings Pte is pushing for the removal of Chief Executive Officer Werner Baumann, according to people familiar with the matter, ratcheting up pressure just as the German crops and drugs giant started reversing a years-long stock slump.
The Singapore state investor has communicated its displeasure about current leadership to the company and supervisory board Chairman Norbert Winkeljohann, the people said, asking not to be identified discussing non-public information. Temasek has longstanding concerns about Bayer’s operating performance under Baumann and the company’s lack of succession planning, they said.