Bayer is launching a sweeping business overhaul as the German conglomerate sees “no viable alternative.”
Bayer on Wednesday unveiled a restructuring of its organization that will “come at the expense of many managerial employees,” according to chairwoman of the executives committee on Bayer’s supervisory board, Barbara Gansewend.
In three years as the pharma chief at Roche, Bill Anderson executed a massive overhaul of the division, lopping off layers of management and recharting its course.
Now in his fifth month as CEO at struggling conglomerate Bayer, Anderson is focused on an even larger renovation, saying the company is on its way to a “radical realignment” with massive reductions in its workforce.
As part of the realignment, Bayer also is evaluating separating its consumer health and crop science divisions.
Just a few months into Bill Anderson's tenure as Bayer's CEO, the helmsman is reportedly looking to trim the drugmaker's management ranks.
Anderson is looking to usher in big changes at Bayer, but first he wants to show investors he's ready to act quickly, Reuters reports, citing three people "familiar with the matter." To that end, he's plotting management job cuts as a first step, according to the news service.
The CEO will reportedly present the initial plans at an upcoming internal strategy meeting. A Bayer spokesperson declined to comment on the matter.
