Tuesday - September 10, 2019
Changes to Board of Management structure as of January 1, 2020:

Bayer reduces size of Board of Management from seven to five members

Leverkusen, September 10, 2019 – The Supervisory Board of Bayer AG on Tuesday decided to reduce the size of the company’s Board of Management from seven to five members effective January 1, 2020. Dr. Hartmut Klusik (63) and Kemal Malik (56) will leave the company as of December 31, 2019. As part of the previously communicated efficiency measures, neither position will be retained. “The Supervisory Board would like to thank both Dr. Hartmut Klusik and Kemal Malik for their longstanding and successful tenures at Bayer. Through their engagement and expertise, they have made major contributions to both their respective areas of responsibility and the company as a whole,” said Werner Wenning, Chairman of the Supervisory Board of Bayer AG. “By streamlining the structure of the Board of Management, we are optimizing the allocation of responsibilities and contributing to the company’s ongoing efficiency program. Driving innovation, leveraging technology and developing our network of partnerships are factors that will remain crucial to our company’s success and will continue to be anchored in our management structure.”

As of January 1, 2020, the Board of Management of Bayer AG will consist of Chairman Werner Baumann, Chief Financial Officer Wolfgang Nickl and division presidents Liam Condon (Crop Science), Stefan Oelrich (Pharmaceuticals) and Heiko Schipper (Consumer Health).

Hartmut Klusik has been a member of the Board of Management since January 2016 and is responsible for Human Resources, Technology and Sustainability. He is also the company’s Labor Director. Kemal Malik has been a member of the Board of Management since February 2014 and is responsible for Innovation as well as the Asia/Pacific region. Their responsibilities will be reallocated. Werner Baumann, Chairman of the Board of Management, will assume responsibility for Human Resources, Sustainability and Leaps by Bayer, an organizational unit that handles early investments in technology with groundbreaking potential. Baumann will also take over the role of Labor Director. The function Engineering and Technology will report to Chief Financial Officer Wolfgang Nickl.

“We appreciated our dialogue with Dr. Klusik. It was always open, constructive and on equal footing, even though we didn't always agree. Credibility and respect are crucial factors that underpin any and all dealings with our colleagues. Mr. Baumann is committed to these values in his role as Chairman of the Board of Management – and we look forward to this continuing in his capacity as Labor Director as well,” said Oliver Zühlke, Chairman of Bayer’s Central Works Council.

Moving forward, the divisions will be responsible for the entire value chain, from research and development to production and marketing. The hybrid functions Corporate Quality and Corporate Health, Safety & Environment will be allocated to the divisions. Regional responsibilities will also be reassigned: Stefan Oelrich will be responsible for Europe/Middle East, Wolfgang Nickl for North America, Liam Condon for Latin America and Africa, and Heiko Schipper for Asia/Pacific.

About Bayer
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 benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

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