MOSCOW (MRC) -- The Supervisory Board of Bayer AG has appointed Wolfgang Nickl (48) to the Board of Management of Bayer AG effective April 26, 2018, the producer said on its site.
He is to succeed Johannes Dietsch (55) as the company’s Chief Financial Officer on June 1, 2018. In April this year, Dietsch announced that he would be leaving Bayer at his own request at the end of May 2018.
Nickl has already been the CFO of several companies in the United States and the Netherlands. He is currently Executive Vice President and Chief Financial Officer at ASML N.V., Veldhoven, Netherlands, which is the world’s leading supplier of lithography systems for the semiconductor industry. "In Wolfgang Nickl, we are pleased to have found a successful manager with a proven track record in the field of finance and many years of experience abroad," said Werner Wenning, Chairman of the Supervisory Board of Bayer AG. "We wish him every success in his new role."
As MRC informed before, German drugs and pesticides group further reduced its holding in Covestro to 31.5% from 40.9% by selling 19 million shares in the plastics business for a total of EUR1.2 billion (USD1.4 billion). It said on Wednesday that it placed the stock at EUR63.25 each, a 3.7% discount to Tuesday’s closing share price, which DZ Bank analyst Peter Spengler said indicated healthy demand for the stock. Bayer, which is trying to wrap up the USD66 billion takeover of U.S. seeds giant Monsanto by the end of the year, had announced the accelerated book building late on Tuesday, part of its plan to fully sever ties with Covestro over the medium-term.
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer's products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen.
MRC