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From Apr 2019 to Apr 2024
By Joshua Stein
Bayer AG said Friday that it will propose to increase compensation to supervisory board members at its annual stockholders meeting, and will suggest two stockholder representatives be elected to the supervisory board.
The German chemical and pharmaceutical conglomerate said the current level of compensation isn't in line with market conditions, and will propose to increase the fixed annual compensation for supervisory board members to 160,000 euros ($191,752) from EUR132,000 at the April meeting.
Bayer will also recommend an overall reduction and greater differentiation in additional compensation for service on committees, which it said would account for different workloads at different committees.
The company added that it will put forward Fei-Fei Li and Alberto Weisser, two representatives of stockholders, for election to the supervisory board at the meeting, both for four-year terms.
Li and Weisser would succeed Johanna Faber and Wolfgang Plischke, who will not be seeking reelection to the board, the Bayer said.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
March 12, 2021 04:51 ET (09:51 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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