Bayer to Unveil Strategy in Early 2024; Doesn't Rule out Structural Changes

By Olaf Ridder and Cecilia Butini

Bayer's will unveil plans and financial targets for the company in early 2024, the company's new Chief Executive Bill Anderson said during a post-results conference call, adding that a strategic review currently taking place at the company isn't excluding any possible scenarios regarding its structure.

The main question is whether Bayer has the right structures in place to be the best owner of all of its businesses, and at the moment management is open to everything and isn't leaving anything untried, the executive said. "If we need to change the structure of the group in order to achieve our goal, that's what we are going to do."

The priority is to arrange corporate structures in order to guarantee speed, according to Anderson. In this sense, Bayer's reference point right now isn't another big corporation but rather a start-up, he said.

Write to Olaf Ridder at [e-mail] and to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

August 08, 2023 10:13 ET (14:13 GMT)

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