Bayer Chairman Faces Criticism From Investor for Lack of Initiative, WirtschaftsWoche Reports
January 23 2023 - 3:49AM
Dow Jones News
-- The largest shareholder in Bayer, Fonds Union, is discontent
with lack of initiative from Supervisory Board chief Norbert
Winkeljohann in regards to a spin-off of the company's
consumer-health unit, German business paper WirtschaftsWoche
reports.
-- Mr. Winkeljohann is seeking dialogue with investors, but he
should have pushed more, as chief comptrollers at other companies
such as Novartis or GSK are much more engaged to create value for
shareholders, Portfolio Manager of Union Investment Markus Manns
told the paper in an interview.
-- "It would definitely have been a matter for the board of
directors to help initiate a spin-off of consumer health," Mr.
Manns said in the interview.
Full story (in German): https://bit.ly/3Hoxbt3
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
January 23, 2023 04:34 ET (09:34 GMT)
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