Kelly Gast appointed as new Chief Financial Officer, effective April 1, 2022 / Frank Terhorst to lead new team combining Strategy with Sustainability & Public Affairs, effective March 1, 2022
Bayer today announced changes in the leadership team of its Crop Science division, with Kelly Gast assuming the position of Chief Financial Officer (CFO) from Michael A. Schulz, effective April 1, 2022. Schulz had been CFO for the Crop Science division for over a decade and decided to leave Bayer for personal reasons after 16 years with the company. Gast is currently CFO for Bayer’s U.S. organization.
“Kelly has tremendous experience in finance and a true passion for the agricultural sector. She will play a key role in driving our performance and business transformation,” said Rodrigo Santos, Member of the Board of Bayer AG and President of the company’s Crop Science division. “We would like to thank Michael for his many years of service to Bayer, and in particular to Crop Science, where he will leave a lasting legacy both in terms of a strong finance team and a very well positioned Crop Science business.”
Separately, Sara Boettiger, SVP, Head of Global Sustainability & Public Affairs, shared her wish to leave the organization. During her time with Bayer she has made significant contributions to the Crop Science division by driving sustainability and public affairs agendas.
Bayer will take this opportunity to further embed sustainability and public engagement at the heart of its Crop Science divisional roadmap by combining the sustainability and public affairs teams with the strategy team, under the leadership of Frank Terhorst, EVP, Strategy & Sustainability, effective March 1, 2022.
“Our ambition is to create a sustainable future for agriculture that will benefit our customers, as well as society, and I am absolutely convinced that Bayer has an important role to play in helping the sector to transform,” said Santos. “The integration of our business strategy with our sustainability agenda under Frank’s leadership will help us to achieve this goal faster and with even more success.”
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to drive sustainable development and generate a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros.