* CEO Dekkers to leave at end of 2016 for "family reasons"
* CFO Baumann to take on new role as strategy chief
* Bayer says Baumann's move will "ensure continuity"
(Adds further details, background)
By Ludwig Burger
FRANKFURT, June 3 German drugmaker Bayer AG
said on Tuesday its chief executive Marijn Dekkers is
to step down at the end of 2016 for family reasons and the
group's chief financial officer is moving over later this year
to take charge of strategy to ensure continuity.
"In line with his own wishes, the contract of Dr. Marijn
Dekkers will be extended by just two years on expiration of the
initial five-year period. Dekkers cited family reasons for
extending his contract only until the end of 2016," the company
said in a statement.
Meanwhile finance chief Werner Baumann, aged 51, is to take
on the newly created role of chief strategy and portfolio
officer in October, to "ensure continuity in key aspects of
Bayer's future development".
His contract runs until end-2017.
A spokesman said the supervisory board would decide at a
later stage who is to succeed Dekkers, 56, as CEO.
Johannes Dietsch, a top executive at Bayer's China business,
would take over Baumann's role as head of finance.
Dekkers, who in a previous job was responsible for the
merger that created Thermo Fisher, had long focused on
bolt-on acquisitions at Bayer but last month secured a $14.2
billion deal to buy Merck & Co Inc's consumer care
Two people familiar with the company said that while
Dekkers, who holds dual Dutch-U.S. citizenship, had shunned
another five-year term at Germany's largest drugmaker, he wanted
to oversee the Merck business being fully folded into Bayer's
Werner Baumann has been Chief Financial Officer since 2010.
Before that he helped oversee the integration of Schering
Pharma, which Bayer took over in 2006.
(Reporting by Ludwig Burger; Editing by Kirsti Knolle, Greg