After Dekkers

Bayer CEO Resigns; Baumann New Head

Bayer CEO Marijn Dekkers board member Werner Baumann Source Oliver Berg dpa
Bayer's Werner Baumann, right, will replace his boss, Marijn Dekkers on May 1.
  • Why it matters

    Why it matters

    Werner Baumann will be tasked with improving Bayer’s pharmaceutical earnings and taking on rivals Pfizer, Novartis and others.

  • Facts

    Facts

    • Mr. Baumann has been head of strategy and portfolio management since October 1, 2014, and was Bayer’s chief financial officer before that.
    • Marijn Dekkers has been chief executive of Bayer since October 2010, and has led a streamlining of the firm.
    • Bayer spun off its plastics division last year and bought the over-the-counter drugs unit of U.S.-based Merck in 2014.
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    Audio

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Bayer’s head of strategy, Werner Baumann, will become the company’s new chief executive on May 1, succeeding Marijn Dekkers, the drugs and pesticides maker said Wednesday.

Mr. Baumann, 53, had long been considered the likely successor at Germany’s second-largest firm after he got the job of strategy head in October 2014. He had been Bayer’s finance head between 2010 and 2014.

Mr. Dekkers’ contract was originally set to run until December 31, 2016, but he will now step down earlier than planned.

“Following rapid implementation of the realignment under Dr. Dekkers’ leadership, Bayer is now entering a new era as a pure life-science company,” Bayer’s non-executive chairman Werner Wenning said in a statement. “That is why this is now the right time to hand on responsibility for managing the company.”

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