At the annual shareholders meeting on Friday, Bayer AG investors made a shocking display of their lack of support for Bayer AG’s CEO.
Bayer AG No-Confidence
Over half of Bayer shareholders voted for CEO Warner Baumann and other managers to answer for their actions involving the Monsanto Corp purchase last summer. An emergency meeting took place after the vote, leading the chairman of the board of directors to release a statement that the board still has full confidence in Baumann according to an article from Bloomberg.
Never Done Before
The company announced that they had not had a majority of investors disapprove of the CEO’s actions in as much as 20 years or even the entire time the company has been around.
Anger over Roundup
Investors over at the meeting were angry over the Monsanto purchase, if the legal risks were looked at, as well as Roundup’s market value sliding.
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