The annual General meeting has voted on Friday night with around 55 per cent against the discharge of the Bayer Board of management for the past financial year, the trust revoked.
this is the first Time that a President of the DAX Board-chief something like this happens: The General meeting of shareholders voted on Friday evening (26.04.2019), with around 55 per cent against the discharge of the Bayer Board of management for the past financial year, the trust revoked. Shareholder representatives speak of a "historical event". The Supervisory Board Chairman Werner Wenning was relieved.a Lot of shareholders are pissed
At the annual General meeting of the Bayer group was unusually severe. In an hour-long meeting marathon, Bayer CEO Werner Baumann had to face many critical questions. Because many of the shareholders were upset because their shares have lost within a year, almost 40 percent of their value.
Fierce Investor. Bayer-chief days
The course was after the Takeover of the US seed producer Monsanto and two lost compensation processes to be broken into. Due to a glyphosate-containing Herbicide of Monsanto, Bayer in the United States is faced with over 13,000 lawsuits.
Bayer to glyphosate-judgment glyphosate under Pressure – history and mode of action of glyphosate impact on the environment
Werner Baumann, Chairman of the BoardBaumann Monsanto Takeover
representatives of large asset managers have accused the Bayer Management, the risks are misjudged, which were connected with the Takeover defended. Fund spokesman called the Situation a shards. A shareholder preservationists said the loss of value and Reputation in a DAX-listed company was in such a short time is a shame.
However, Chairman of the Board, Baumann remained of his argument true, that the purchase of Monsanto have been strategically correct and glyphosate when it is properly applied – a safer active ingredient. He pointed to over a Hundred studies, which should illustrate this.no immediate consequences
a Board of Directors-chief is not relieved by the shareholders, is a turning point in the case of Bayer, to say the shareholder activist. In the past year, the approval was still good 97 percent. That is to say, within a year, the confidence of the shareholders is an arrangement of the solid.
in Principle, it is this: If the majority of shareholders is denied to the Board the approval, the consequences legally no immediate. But the image damage is enormous, and is likely to trigger a personal debate about whether or not the right Manager at the top of the company. Open is how the Supervisory Board handles the vote of the shareholders.
Bayer shareholders ' meetingAtlas |Germany |Bonn