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Showing results for Bayer Cropscience, Inc. as Successor to Amchem, Inc.
...Schroder will stay as CEO until a successor is found, while Lupo will be replaced by Kathleen Hyle....
...Shares in Bayer shed a 10th of their market value (about $10bn) on Monday as investors feared a possible avalanche of costly legal defeats linked to a weedkiller made by Monsanto, the US rival it acquired...
...Chaired by Marijn Dekkers, former CEO of Germany’s Bayer pharmaceutical group, the board dismissed the offer as too low and making no strategic sense....
...News of the deal came as Bayer posted third-quarter results showing net income down 18 per cent to €528m on legal claims and restructuring costs, on sales up 12 per cent to €9.7bn on the back of growth in...
...Mr Reinhardt “knows what price Bayer would be willing to accept”....
...Some analysts have their eyes on Mr Zachert, not only to help improve Merck’s valuation but as a potential successor to another CFO-turned-chief executive – Mr Kley himself....
...Amgen has declined to comment on its intentions. Roche, GlaxoSmithKline, Eli Lilly and Bayer, all mentioned in media reports as potential white knights, have refused to discuss the matter....
...Infineon encountered exactly this problem, according to one company executive. “Mr Kley mandated a headhunter in early 2009 to search for an outsider as successor....
...The vacancy at Bayer Healthcare was created by the decision of its current head, Arthur Higgins, to leave the company for “personal reasons” – and will leave Mr Dekkers free to appoint his own successor...
...Mr Schröder has now gone but his conservative successor, Angela Merkel, appears to be adopting an even more protectionist approach despite all her reforming zeal....
...Other agricultural biotech companies in the market include DuPont, Dow and Bayer CropScience, which was formed in 2001 by Bayer’s purchase of Aventis ....
...The CropScience revamp, however, will lead to special cash charges of about €330m, and writedowns of around €120m, mainly in the 2007 and 2008 results. Bayer stock fell 0.7 per cent to €39.26....
...The US-based group will seek a deal with a major agricultural specialist, such as Syngenta or Bayer CropScience....
...The choice of his successor is likely to speak volumes about the company's near-term direction....
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