8chan/8kun QResearch Posts (4)
#10593817 at 2020-09-10 22:03:04 (UTC+1)
Q Research General #13556: Playbook, Rally, Knowledge is Power Eyez On Edition
Bayer CEO wins term extension, makes progress on Roundup settlement
Bayer's (BAYGn.DE) Chief Executive Werner Baumann won an extension of his contract until 2024, in a show of support from the drugmaker's new chairman just months after agreeing an $11 billion settlement of U.S. lawsuits over its Roundup weedkiller. In a statement on Thursday, the group also said it would only be a matter of weeks to finalise the fragile settlement of claims that Roundup and other glyphosate-based herbicides cause cancer, which Bayer inherited as part of a $63 billion takeover of Monsanto.
A judge in July raised concern about an agreement with plaintiffs' lawyers on how to handle claims that may be brought in the future, throwing the overall settlement deal into doubt. Baumann, just weeks after taking the top job in 2016, unveiled plans to purchase Monsanto. He had the full backing of then-Chairman Werner Wenning, who retired in April this year and was succeeded by Norbert Winkeljohann, a former head of six European countries at auditing and consulting firm PwC.
Baumann, 57, hinted the new term would be his last, saying he could have been given up to four years but instead opted for a shorter contract to "accommodate my personal plans".
Winkeljohann said he expects "the glyphosate litigation will be handled in a way that is satisfactory for the company, makes economic sense and is structured in a way that enables potential future cases to be efficiently resolved." Bayer in June settled most of the existing lawsuits and also struck an agreement on future cases, proposing a scientific panel to rule on any future claimants that agree to submit to the out-of court procedure. But after a rebuke on that partial deal from a judge, Bayer conceded there were "bumps" to overcome.
The arrangement on future cases is unprecedented because glyphosate will remain on the market without a cancer warning, for which the company has the backing of the U.S. pesticides regulator.
https://www.reuters.com/article/us-bayer-ceo/bayer-ceo-wins-term-extension-makes-progress-on-roundup-settlement-idUSKBN2613C5
#8258010 at 2020-02-26 22:05:25 (UTC+1)
Q Research General #10572: Enemy of My Enemy Edition
>>8257884
This looks notable? → >>8257699
Chairman of Bayer Werner Wenning will quit this April.
#8257978 at 2020-02-26 22:02:16 (UTC+1)
Q Research General #10572: Enemy of My Enemy Edition
>>8257857
Can you add (>>8257699) ?
Bayer's chairman Werner Wenning stepping down this April.
#8254127 at 2020-02-26 13:41:54 (UTC+1)
Q Research General #10567: Wheels Down Edition
Bayer chairman quits as Roundup settlement talks progress
FRANKFURT (Reuters) - Bayer (BAYGn.DE) Chairman Werner Wenning, one of the architects of a $63 billion takeover deal that has left the German crop protection company. Bayer shares have plunged about a quarter in value since August 2018, when the company lost the first U.S. lawsuit claiming weedkiller Roundup - acquired via the takeover of Monsanto - causes cancer.
"We have made and continue to make progress in handling the legal issues in the U.S. That's why now is a good time to hand over to my successor," the 73-year-old Wenning said in a statement.
Norbert Winkeljohann, who was head of auditing firm PricewaterhouseCoopers Europe SE until June 2018 and has been a member of Bayer's supervisory board since 2018, will succeed Wenning after the annual shareholders' meeting on April 28, the company added. Wenning, whose term as chairman of Bayer's non-executive supervisory board would have expired in 2022, said he had originally intended to step down last year after reaching the board's recommended age limit of 72, but was asked to stay on.
Bayer last year started negotiations with plaintiffs' lawyers to settle more U.S. lawsuits involving Roundup. In October 2019, the number of plaintiffs more than doubled to 42,700 within just three months, and analysts have predicted it may cost they company up to $12 billion to lay the claims to rest. In August 2018, a California state court jury awarded almost $300 million in damages to a groundskeeper in the initial Roundup lawsuit, though that was later reduced to $78 million.
In two subsequent cases other juries also found the company liable. Bayer is appealing all three verdicts. Major shareholders have criticised Bayer for its handling of the issue and for underestimating the risks when it bought Monsanto, resulting in an unprecedented show of disapproval towards top management at last year's annual general meeting.
Bayer, which is scheduled to release fourth-quarter results on Thursday, has defended a deal that brought together companies commanding more than a quarter of the world market for seeds and pesticides. Wenning, a Bayer veteran of more than 50 years, became CEO in 2002, taking control of a company plunged into crisis by the 2001 market withdrawal of cholesterol drug Baycol, or Lipobay, which had been linked to deadly side effects. As CEO, he clinched major takeovers including that of Roche's (ROG.S) non-prescription drugs business for 2.4 billion euros ($3.2 billion) and of German healthcare rival Schering for 17 billion euros. After an eight-year stint, he handed the CEO role to company outsider Marijn Dekkers in 2010 and became chairman two years later. Wenning's protégé Werner Baumann succeeded Dekkers as CEO in 2016 after serving as finance chief and head of strategy.
Within weeks of taking the helm, Baumann broke cover on Bayer's interest in Monsanto, enjoying unwavering support from Wenning throughout the tortuous negotiations and also as Roundup lawsuits piled in later. Pesticide market regulators across the globe, including the U.S. Environmental Protection Agency (EPA) and the European Food Safety Authority have concluded that Roundup is not likely carcinogenic to humans.
The World Health Organization's International Agency for Research on Cancer (IARC), however, stated in 2015 that glyphosate - which is used in Roundup - probably causes cancer. fighting costly lawsuits, will step down in April, it said on Wednesday.
8chan/8kun QResearch GERMANY Posts (1)
#8265216 at 2020-02-27 17:01:13 (UTC+1)
Q Research Germany #39 | Hanau was a False Flag - Edition
Bayer-Chef kündigt im Zuge der Roundup-Vergleichsgespräche
Ludwig Burger
FRANKFURT (Reuters) - Der Bayer-Vorsitzende Werner Wenning, einer der Architekten eines 63 Milliarden Dollar schweren Übernahmegeschäfts, bei dem der deutsche Pflanzenschutzkonzern mit kostspieligen Klagen zu kämpfen hatte, wird im April zurücktreten, hieß es am Mittwoch. (…)
"Wir haben bei der Behandlung der Rechtsfragen in den USA Fortschritte gemacht und machen weiterhin Fortschritte. Deshalb ist jetzt ein guter Zeitpunkt, um die Sache an meinen Nachfolger zu übergeben", sagte der 73-jährige Wenning in einer Erklärung.
Norbert Winkeljohann, der bis Juni 2018 Leiter der Wirtschaftsprüfungsgesellschaft PricewaterhouseCoopers Europe SE war und seit 2018 Mitglied des Bayer-Aufsichtsrats ist, wird nach der Hauptversammlung am 28. April die Nachfolge von Wenning antreten, so das Unternehmen.
Wenning, dessen Amtszeit als Vorsitzender des nicht-exekutiven Aufsichtsrats von Bayer 2022 abgelaufen wäre, sagte, er habe ursprünglich beabsichtigt, im vergangenen Jahr nach Erreichen der vom Vorstand empfohlenen Altersgrenze von 72 Jahren zurückzutreten, sei aber gebeten worden, im Aufsichtsrat zu bleiben.
Bayer hat im vergangenen Jahr Verhandlungen mit den Anwälten der Kläger aufgenommen, um weitere US-Klagen im Zusammenhang mit Roundup beizulegen.
Im Oktober 2019 hat sich die Zahl der Kläger innerhalb von nur drei Monaten auf 42.700 mehr als verdoppelt, und Analysten haben vorausgesagt, dass es das Unternehmen bis zu 12 Milliarden Dollar kosten könnte, die Ansprüche zu begleichen.
Im August 2018 sprach eine Jury des kalifornischen Staatsgerichtshofs einem Platzwart in der ersten Roundup-Klage fast 300 Millionen Dollar Schadenersatz zu, der später jedoch auf 78 Millionen Dollar reduziert wurde.
(…)
Wenning, ein Bayer-Veteran mit mehr als 50 Jahren Erfahrung, wurde 2002 CEO und übernahm die Kontrolle über ein Unternehmen, das durch die 2001 erfolgte Marktrücknahme des Cholesterinmedikaments Baycol oder Lipobay, das mit tödlichen Nebenwirkungen in Verbindung gebracht wurde, in die Krise geraten war.
Als CEO hat er große Übernahmen durchgesetzt, darunter die des Geschäfts mit rezeptfreien Medikamenten von Roche (ROG.S) für 2,4 Milliarden Euro (3,2 Milliarden Dollar) und des deutschen Gesundheitskonkurrenten Schering für 17 Milliarden Euro.
Nach einer achtjährigen Amtszeit übergab er 2010 die Rolle des CEO an den Außenseiter Marijn Dekkers und wurde zwei Jahre später Vorsitzender. Wennings Schützling Werner Baumann trat 2016 die Nachfolge von Marijn Dekkers als CEO an, nachdem er als Finanzchef und Leiter der Strategie tätig war. (…)
Übersetzt mit www.DeepL.com/Translator (kostenlose Version)
https://www.reuters.com/article/us-bayer-chairman/bayer-chairman-quits-after-making-progress-to-settle-litigation-idUSKCN20K16K
Bayer chairman quits as Roundup settlement talks progress
Ludwig Burger
FRANKFURT (Reuters) - Bayer (BAYGn.DE) Chairman Werner Wenning, one of the architects of a $63 billion takeover deal that has left the German crop protection company fighting costly lawsuits, will step down in April, it said on Wednesday.