Bayer CEO Calls for Executives to Show Salary Moderation
Corporate executives should demonstrate greater restraint when it comes to their compensation, the chief executive of the German chemical giant Bayer told Handelsblatt.
“In relation to compensation, that means moderation,” Werner Baumann said in an interview. “And to have the courage to not always demand what’s contractually promised when it would be inappropriate, particularly in a serious crisis.”
Mr. Baumann, who took over the reins at Bayer in May, expressed understanding for people in the middle class who are angry at society’s elite.
“In the middle class, there are certainly people who have lost out in globalization, both in fact and in feeling,” he said. “They are discontent, insecure and have increasing difficulty coming to terms with the risk they’re exposed to. They receive few answers from policymakers and society.”