Bayer AG's CEO To Quit In 2016, CFO Moves Over To Lead Strategy

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".

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