Werner Baumann

{{Short description|German businessman and CEO of Bayer}}

{{Use dmy dates|date=March 2024}}

{{Infobox person

| name = Werner Baumann

| image = Werner Baumann (born 1962) at World Economic Forum Davos 2022.png

| caption = Baumann in 2022

| birth_name =

| birth_date = {{birth date and age|1962|10|06|df=yes}}

| birth_place = Krefeld, West Germany (now Germany)

| death_date =

| death_place =

| education = RWTH Aachen University
University of Cologne

| title = Former CEO, Bayer

| term = 2016–2023

| predecessor = Marijn Dekkers

| successor = Bill Anderson

| known for =

| spouse = Married

| parents =

| children = 4

| relatives =

| website =

}}

Werner Baumann (born 6 October 1962) is a German businessman who was the chief executive officer (CEO) of Bayer from 2016 to May 2023.{{cite web|url=https://www.reuters.com/business/bill-anderson-become-ceo-germanys-bayer-2023-02-08|title=Bayer picks outsider Anderson as CEO after investor pressure|author=Patricia Weiss, Svea Herbst, Kirsti Knolle, Christoph Steitz and Ludwig Burger|website=Reuters |date=8 February 2023}}

Early life

Baumann was born on 6 October 1962 in Krefeld, Germany.{{cite web|url=http://www.bayer.com/en/werner-baumann.aspx|title=Werner Baumann|author=Bayer AG}} Baumann was the first of his family to attend university, studying economics at RWTH Aachen University and the University of Cologne. Despite having interest in working for an auditing firm, he chose to work at Bayer, thinking he could finish his doctorate degree.{{Cite web|url=https://www.ft.com/content/20b3b5b6-1e6e-11e6-b286-cddde55ca122|title=Bayer chief picks contentious path for growth with Monsanto bid|website=Financial Times|language=en-GB|access-date=6 June 2018}} In 2018, he founded his own company Bayer Animation.

Career

Baumann began working for Bayer, the German multinational pharmaceutical and life sciences company, in 1988. He started his career in the finance department and later worked under Werner Wenning as his assistant in the Spanish business division.

Baumann began to rise through the ranks and went on to hold the position of chief financial officer{{Cite web|url=https://www.ft.com/content/33118c7f-c1af-3ea0-8eaf-134a0530c04f|title=Bayer confirms Werner Baumann as new chief|website=Financial Times|language=en-GB|access-date=6 June 2018}} and chief of strategy. As chief of strategy, Baumann played a key role in the Bayer AG acquisition of Schering in 2006.{{Cite news|url=https://www.biospace.com/article/bayer-ag-confirms-strategy-chief-b-werner-baumann-b-as-new-ceo-/|title=Bayer AG Confirms Strategy Chief Werner Baumann as New CEO {{!}} BioSpace|work=BioSpace|access-date=6 June 2018|language=en-US}}{{Cite news|url=https://www.reuters.com/article/us-bayer-baumann-idUSKCN0VR1TB|title=Bayer strategy head Baumann set to be named CEO: source|last=Burger|first=Ludwig|work=U.S.|access-date=6 June 2018|language=en-US}}

=CEO of Bayer, 2016–May 2023=

In February 2016, Baumann was announced as the next CEO of Bayer, succeeding Marijn Dekkers.{{cite web|url=https://www.bloomberg.com/news/articles/2016-02-24/bayer-names-werner-baumann-to-succeed-marijn-dekkers-as-ceo|title=Bayer Names Werner Baumann to Succeed Marijn Dekkers as CEO|author=Johannes Koch|date=24 February 2016|work=Bloomberg.com}}{{cite web|url=http://www.fiercepharma.com/story/werner-baumann-takes-top-bayer-job-may-1-marijn-dekkers-exits/2016-02-24|title=Werner Baumann takes top Bayer job May 1 as Marijn Dekkers exits|work=FiercePharma}} After only four weeks as CEO, Baumann launched a US$62 billion all cash takeover bid for Monsanto, an American agricultural, seed, and agrochemical company.{{Cite news|url=https://www.telegraph.co.uk/business/2016/05/28/baumanns-monster-may-be-best-left-in-the-corporate-finance-lab/|title=Baumann's monster may be best left in the corporate finance lab|last=Marlow|first=Ben|date=28 May 2016|work=The Telegraph|access-date=6 June 2018|language=en-GB|issn=0307-1235}} The acquisition took over 20 months to complete and closed on 7 June 2018. Losses for Bayer investors reach tens of billions of Euros just two years after the acquisition. His position as CEO of Bayer was renewed in 2020 until 2024 before the general meeting of shareholders in 2021.{{Cite news|url=https://global.handelsblatt.com/companies/bayer-monsanto-name-end-controversy-931456|title=Bayer to eliminate Monsanto name, but that won't end controversy|date=5 June 2018|work=Handelsblatt Global Edition|access-date=6 June 2018|language=en-US}}{{Cite news|url=http://www.hpj.com/ag_news/bayer-plans-closing-of-monsanto-acquisition-on-june/article_1bde8b74-68c7-11e8-a9a3-678e9d1115a8.html|title=Bayer plans closing of Monsanto acquisition on June 7|work=High Plains Journal|access-date=6 June 2018|language=en}}{{cite press release|url=https://media.bayer.com/baynews/baynews.nsf/id/Bayer-closes-Monsanto-acquisition?Open&parent=news-overview-category-search-en&ccm=020|title=Bayer closes Monsanto acquisition|date=7 June 2018|access-date=25 June 2018|publisher=Bayer AG}} By 2023, Bayer investor DekaBank called for Baumann to be replaced ahead of his scheduled departure.Ludwig Burger (28 January 2023), [https://www.reuters.com/business/bayer-investor-calls-swift-replacement-ceo-newspaper-2023-01-28/ Bayer investor calls for swift replacement of CEO -newspaper] Reuters. Bayer subsequently picked Bill Anderson to succeed him.

Other activities

  • Baden-Badener Unternehmer-Gespräche (BBUG), Member of the Board of Trustees[https://www.bbug.de/de/ueber-uns/der-verein.php Board of Trustees] Baden-Badener Unternehmer-Gespräche (BBUG).
  • German Future Prize, Member of the Board of Trustees[https://www.deutscher-zukunftspreis.de/de/der-preis/kuratorium Board of Trustees] Deutscher Zukunftspreis.
  • Dinosaur of the Year 2016 award{{Cite web|url=https://en.nabu.de/news/2016/21748.html|title="Dinosaur of the Year" Award 2016 - NABU|website=NABU - Naturschutzbund Deutschland e.V.}}

Personal life

Baumann is married with four children and resides in Krefeld, Germany.

References