Bayer Group’s divisions demonstrated resilience and strength in several core areas, surpassing industry peers, according to CEO Bill Anderson during the virtual Annual Stockholders’ Meeting. Anderson praised the progress in cancer and Parkinson’s disease drug research, herbicide development, and bolstering consumer brands. He emphasized the company’s vitality, acknowledging the workforce’s dedication alongside Prof. Dr. Norbert Winkeljohann, Chairman of the Supervisory Board.
However, Anderson acknowledged areas needing improvement in 2023. He transparently addressed vulnerabilities since assuming office, emphasizing the importance of shared problem understanding to rebuild trust and enhance performance. Anderson outlined four key areas for urgent focus over the next two to three years:
- Patent exclusivity loss in the Pharmaceuticals Division and pipeline structure.
- Legal challenges in the United States.
- High debt levels.
- Bureaucratic hurdles slowing down operations.
Anderson introduced the Dynamic Shared Ownership (DSO) model, aiming to empower employees to pursue Bayer’s mission efficiently.
Launching a three-year rejuvenation process, Anderson reassured stockholders despite anticipated slow starts in Crop Science and Consumer Health divisions due to market dynamics. He committed to transparent communication on progress and challenges, expressing confidence in the journey’s worthiness.
Anderson thanked departing Consumer Health President Heiko Schipper for his contributions and welcomed Julio Triana as his successor.
Despite meeting 2023 financial targets, including 47.6 billion euros in sales and 11.7 billion euros in EBITDA before special items, Bayer announced plans to pay the minimum dividend for three years to reduce debt.
The Annual Stockholders’ Meeting would vote on new Supervisory Board representatives, including biotech expert Dr. Nancy Simonian, legal expert Lori Schechter, and Jeffrey Ubben, founder of Inclusive Capital Partners.
For more information, visit www.bayer.com/stockholders-meeting for livestreams, speeches, and voting results, and www.bayer.com/news for additional updates and materials.
Forward-looking statements may contain risks and uncertainties, and Bayer assumes no liability to update them based on future events or developments.
