Bayer Extends CEO’s Term Through 2029
Bayer's Supervisory Board has unanimously decided to extend the contract with the company's CEO, Bill Anderson, until March 31, 2029.
His original contract ends on March 31, 2026. Anderson has been with Bayer since April 1, 2023 and took over as CEO on June 1, 2023. "Bayer is in the middle of a far-reaching transformation. The company has clearly defined priorities in place and is taking action to address the challenges it faces. We’re starting to see some clear successes, though there’s still a lot to do,” said Norbert Winkeljohann, Chairman of the Supervisory Board of Bayer AG. “Bill Anderson is charting the right course and has initiated a comprehensive turnaround program in an important phase for Bayer. Under his leadership, the company will resolutely continue this path,” said Winkeljohann.
Bayer has initiated numerous measures to address its five strategic priorities: strengthening the Pharmaceuticals pipeline, improving profitability at Crop Science, becoming leaner and more innovative through the new operating model, deleveraging and containing the legal risks in the United States. These measures are now starting to deliver tangible impact. For example, Bayer has successfully advanced the Pharmaceuticals pipeline. Building on the division’s strong foundations, the new product launches have displayed highly encouraging growth momentum. Regarding profitability in the Crop Science business, the company is already executing initial measures as part of a comprehensive five-year framework. Bayer is also making headway in implementing Dynamic Shared Ownership. This new operating model is designed to radically eliminate bureaucracy and significantly speed up decision-making by placing it mainly in the hands of those closest to customers and products. Since rolling out the new operating model, the company has significantly reduced the number of hierarchy layers in the organization, with the number of management positions having been roughly halved. There are now around 11,000 fewer positions overall at Bayer. Through these measures, the company is progressing in delivering the two billion euros in planned savings for 2026. Bayer has also been able to reduce debt. Finally, the company is executing a multi-pronged strategy as part of its efforts to significantly contain the legal risks in the United States.
Anderson believes the company is making good progress. Bayer has numerous opportunities to capitalize on, as well as some serious challenges that it is diligently addressing, he said. “With our mission of ‘Health for all, Hunger for none’, we serve the needs of people all around the world. That’s what motivates my colleagues – and it’s also something that inspires me each and every day. I truly believe that our team has the right focus and the right plan to become the leanest, fastest, and most innovative life science company. Team Bayer is all in and we are totally up to the task. I’m delighted to be a part of Team Bayer and I’d like to thank the members of the Supervisory Board – the stockholder and employee representatives alike – for the trust they have placed in me,” Anderson said.
William N. (Bill) Anderson is an American chemical engineer and executive. Following roles at Ethyl Corporation and Raychem Corporation, he joined Biogen, an American biotechnology firm. After serving in various leadership roles, Anderson was appointed General Manager of Biogen’s Neurology Unit, the company’s largest business unit. In 2006, he joined Genentech, a pioneering American biotechnology company, eventually serving as Senior Vice President in the firm’s BioOncology Unit.
Anderson left this role in 2013 to join Roche Pharmaceuticals, the parent company of Genentech, as Head of Global Product Strategy and Chief Marketing Officer. After serving in this position until 2016, he moved back to Genentech to assume the position of Head of North American Operations before becoming CEO of the company in 2017. In 2019, Anderson became CEO of Roche Pharmaceuticals.
