Bayer can do more to defuse investor rage edwardcropley
Bayer shareholders cast a vote of disapproval on April 26 against the drugs and agrochemical group’s management amid a stock-price slump caused by cancer-related claims at Monsanto, the seeds maker it acquired last year for $63 billion.
A 55.5 percent majority of shareholders at Bayer’s annual general meeting voted against ratifying the executive board’s actions over the last year. The firm’s supervisory board gained only 66.4 percent approval. Such votes feature prominently at German annual shareholder meetings. They carry no legal weight but are an important gauge of investor sentiment and triggered resignations at Deutsche Bank in 2015.
Despite the vote, three of Bayer’s leading German shareholders spoke out on April 29 against immediate management changes, saying further upheaval would only increase the risk of a breakup. About 30 billion euros has been wiped off Bayer’s market value since August, when it suffered its first legal defeat over alleged links between Monsanto’s Roundup weed killer and cancer. Bayer is appealing the ruling.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Bayer shareholders vent ire over Monsanto-linked stock routBayer shareholders vented their anger over its stock price slump on Friday as li...
Weiterlesen »
Shareholders rebuke Bayer bosses over Monsanto-linked stock routBayer shareholders on Friday cast a vote of disapproval of the German drugmaker&...
Weiterlesen »
Bayer gets Monsanto profit boost but legal burden mountsGerman drug and farming supplies company Bayer posted a 45 percent gain in quart...
Weiterlesen »
Shareholders say Bayer bosses need more time after AGM rebukeTwo of Bayer's largest German investors said the drugmaker's embattled...
Weiterlesen »
Bayer supervisory board backs management post-voteBayer AG's (BAYN.XE) supervisory board said Saturday that it stands behind the company's management after a majority of shareholders refused to ratify management's actions in 2018. "While we take the outcome of the vote at the annual stockholders' meeting very seriously, Bayer's supervisory board unanimously stands behind the board of management," said Werner Wenning, chairman of the supervisory board.
Weiterlesen »
Bayer shareholder revolt rests on shame factorBlackRock and others want to punish the German chemicals group for its takeover of Monsanto, which destroyed $33 bln of value. But the likely vote of disapproval is more bad PR than a binding order. It’s a sign of the limits of shareholder activism in Germany.
Weiterlesen »
Bayer asks California appeals court to throw out $78 million Roundup verdictBayer AG on Wednesday asked a California appellate court to throw out a $78 mill...
Weiterlesen »
Deutsche Bank chair faces shareholder reckoningFailed merger talks with Commerzbank are another blot on Paul Achleitner’s seven-year tenure at the German lender. A vote against Bayer bosses suggests investors are becoming more vocal. With his own May 23 judgment day looming, Achleitner has a tough job arguing for continuity.
Weiterlesen »
An activist investor group is slamming Bed Bath & Beyond for selling 'garbage cans galore'A group of activist investors released a 150-slide presentation criticizing Bed Bath & Beyond, including for selling too many garbage cans.
Weiterlesen »
Government squaring off with Burning Man organizers over barriers, lasers and trash cansA standoff with the federal government is putting the future of Burning Man at risk. The problems started when the event's organizer, Burning Man Project, applied for a permit from the U.S. Bureau of Land Management (BLM) to hold the event in northern Nevada's Black Rock Desert for another 10
Weiterlesen »