News Article
Bayer CEO granted contract extension in recognition of “clear successes”
The supervisory board of German multinational pharmaceutical and biotechnology company Bayer AG has unanimously extended CEO Bill Anderson’s contract until March 31, 2029, three years beyond its original 2026 expiration.
Anderson, who joined Bayer in April 2023 and assumed the CEO role in June, is leading a comprehensive turnaround program. The board cited “clear successes” in its transformation, including cost-cutting initiatives that have eliminated over 11,000 jobs and aim to reduce annual costs by €2 billion from 2026.
Chairman Norbert Winkeljohann emphasized the progress in restructuring, stating, “Bill Anderson has set the right course and initiated the turnaround with a comprehensive program”. The decision reflects confidence in Anderson’s strategy to streamline operations, strengthen the pharmaceutical pipeline, and address ongoing legal risks.
Bill Anderson
Bayer, Biotech, HR, Pharma