Bayer taps strategy head Baumann for CEO | Personnel Moves

February 24, 2016 By Brad Perriello Leave a Comment

Bayer (ETR:BAYN) named strategy chief Werner Baumann to replace Marijn Dekkers as CEO today, prompting some industry watchers to speculate that there’s more deal-making ahead for the German firm’s non-pharma markets.

Baumann, who’s slated to succeed Dekkers May 1, joined Bayer in 1988 and made a name for himself with the successful integration of rival drugmaker Schering in 2006 – at the time Bayer’s biggest-ever takeover – and was a driving force behind the acquisition of Merck & Co’s consumer health unit 8 years later.

Investment bankers who know him describe Baumann as introverted and indifferent to executive trappings, but said this should not be confused with a lack of determination.

“Werner Baumann shouldn’t be underestimated. He won’t hesitate to do a deal if it fits,” one of them said.

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Material for Reuters was used in this report.

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