Germany’s three biggest asset management groups said they would not vote for the re-election of Bayer Chairman Norbert Winkeljohann on Friday because of his numerous board commitments.
Bayer investor Jeff Ubben has contacted fellow shareholders in the German group, investors and sources familiar with the matter told Reuters, in an apparent attempt to rally support for big changes at the drugs-to-pesticides company.
A top-10 shareholder in Bayer on Tuesday called on the group’s supervisory board to replace chief executive Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker’s sagging share price.
Bayer CEO Werner Baumann may be on the way out. For the past several years, Baumann has been in the sights of angry shareholders but has evaded an ouster. That soon may be over.
AstraZeneca Plc on Monday won the dismissal of a U.S. shareholder lawsuit claiming that it concealed problems in developing its COVID-19 vaccine, making it unlikely the treatment would win regulatory approval in the United States.