Bayer has started the search for a successor to CEO Baumann, according to Bloomberg.

Bayer has started the search for a successor to CEO Baumann, according to Bloomberg. This comes as the company is in the midst of a multi-year transformation plan. The goal is to find a successor who can lead the company through the challenges it is facing, including the expiration of patents, heavy debt, and litigation costs.

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Bayer has started the search for a successor to CEO Baumann, according to Bloomberg.

Bayer's supervisory board has initiated a search for a successor to Chief Executive Werner Baumann. The move comes as Bayer faces various challenges, including the expiration of patents, heavy debt, and litigation costs.

Non-executive Chairman Norbert Winkeljohann is leading the search for a new CEO. He is looking into internal and external candidates with the goal of presenting a designated successor by the next annual shareholder meeting in April 2023.

Subsection 1.3 Bayer is expected to face costs associated with the search, which is expected to cost between $2 billion and $3 billion.

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Main points of the search.

The search is expected to take between six and nine months.

Winkeljohann has said that the supervisory board is looking for a "globally experienced" CEO with a "strong track record."

The goal is to find a successor who can lead the company through the "next phase of transformation."

The search for a new Bayer CEO will take between six and nine months, according to Bloomberg. Non-executive Chairman Norbert Winkeljohann is leading the search with the goal of finding a successor who can lead the company through the "next phase of transformation."

Winkeljohann has said that the supervisory board is looking for a "globally experienced" CEO with a "strong track record." The goal is to find someone who can help execute Bayer's transformation plan and navigate the company through various challenges, such as the expiration of patents, heavy debt, and litigation costs.

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Why finding a successor is important for Bayer.

Bayer is in the midst of a multi-year transformation plan.

The company is facing various challenges, including the expiration of patents, heavy debt, and litigation costs.

A new CEO will be tasked with leading the company through these challenges and executing the transformation plan.

Finding a successor for Bayer CEO Baumann is important for a number of reasons. First, Bayer is currently in the midst of a multi-year transformation plan that has yet to be completed. This plan was put in place in order to help the company adapt to changing markets and respond to various challenges it faces, such as the expiration of patents, heavy debt, and litigation costs. A new CEO will be tasked with leading the company through these challenges and executing the transformation plan. Second, even though Bayer has been profitable in recent years, its stock price has lagged behind its competitors due to investor concerns about the company's ability to execute its transformation plan and address its various challenges. A new CEO with a strong track record could help instill confidence in investors and lead Bayer to better financial performance. Finally, finding a successor now gives Bayer time to groom an internal candidate or conduct a thorough search for an external candidate who can take over as CEO when Baumann's term expires in 2023. This would avoid any potential disruptions that could occur if a successor were not named until closer to Baumann's departure date.

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It is clear that finding a successor for Baumann is a top priority for Bayer. With the company facing various challenges, it is important to find a CEO who can lead the company through its transformation plan. The search is expected to take some time, but it is crucial for the future of Bayer.

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