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Bayer : Erica Mann to leave Bayer effective March 31, 2018 ...

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11/15/2017 | 08:40am CET

Leverkusen, November 15, 2017- The Supervisory Board of Bayer AG has appointed Heiko Schipper (48) to the Board of Management of Bayer AG effective March 1, 2018. He will succeed Erica Mann as the head of the Consumer Health Division, which is headquartered in Basel, Switzerland. Mann has announced that she does not intend to extend her contract, which was scheduled to run until December 31, 2018. As it has been possible to find a successor at an earlier date, Mann has asked the Supervisory Board to be able to hand over leadership of the Consumer Health business and leave the company effective March 31, 2018.

Schipper is Deputy Executive Vice President of Nestlé S.A. and a member of its Executive Board based in Vevey, Switzerland. He is Head of Nestlé Nutrition, the global leader in the infant nutrition category with sales of EUR 8.8 billion. He started his career as an international marketing trainee at Nestlé 21 years ago and held key management positions in Southeast Asia, Switzerland and China. He has held global responsibility for Nestlé's infant nutrition division since 2013. 'Heiko Schipper has extensive international experience in the consumer market. We are convinced that he will successfully lead Bayer's Consumer Health business,' said Werner Wenning, Chairman of the Supervisory Board of Bayer AG. Wenning thanked Erica Mann for her work in expanding the business in recent years. 'Bayer today is one of the leading companies in the self-medication market. Ms. Mann has contributed substantially to this development. We would like to wish her all the best for the future.'

Heiko Schipper was born on August 21, 1969, in Amsterdam, the Netherlands. He completed his Master in Business Economics at the Erasmus University in Rotterdam, the Netherlands. Starting in 1994, he acquired his first professional experience at Heineken. He joined Nestlé as an international marketing trainee in 1996, developing his career in sales and marketing management roles in Bangladesh and Indonesia and at the company's global headquarters in Switzerland. He then took up general management roles of increasing importance in the Philippines and, from 2007 to 2013, in the Greater China Region with the aim of developing Nestlé's position in this key market. In 2013, Schipper moved back to Switzerland to lead the global Infant Nutrition Division, a business with both consumer and medical characteristics. He was appointed to the Nestlé Group Executive Board in October 2014.

Heiko Schipper is a Dutch national. He is married and has three children.

Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2016, the Group employed around 99,600 people and had sales of EUR 34.9 billion. Capital expenditures amounted to EUR 2.2 billion, R&D expenses to EUR 4.4 billion. For more information, go to www.bayer.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Bayer AG published this content on 15 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 November 2017 07:39:01 UTC.

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Financials (€)
Sales 2018 35 876 M
EBIT 2018 7 359 M
Net income 2018 4 846 M
Debt 2018 5 116 M
Yield 2018 2,99%
P/E ratio 2018 16,48
P/E ratio 2019 14,72
EV / Sales 2018 2,30x
EV / Sales 2019 2,22x
Capitalization 77 460 M
Duration : Period :
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Technical analysis trends BAYER
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Mean consensus OUTPERFORM
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Average target price 119 €
Spread / Average Target 27%
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Hartmut Klusik Head-Human Resources, Technology & Sustainability
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