The Supervisory Board of Bayer AG has unanimously decided to extend the contract of Chief Executive Officer Bill Anderson until March 31, 2029. His contract was originally scheduled to expire on March 31, 2026. Anderson joined Bayer on April 1, 2023, and became Chief Executive Officer on June 1, 2023.

"Bayer is in the midst of a profound transformation. The company has clearly defined its priorities and is taking steps to address the challenges it faces. We are beginning to see some clear successes, although there is still much to be done," said Norbert Winkeljohann , Chairman of the Supervisory Board of Bayer AG. " Bill Anderson is charting the right course and has initiated a comprehensive restructuring program at an important stage for Bayer. Under his leadership, the company will resolutely continue on this path," Winkeljohann concluded.

Bayer has initiated numerous measures to address its five strategic priorities: strengthening the pharmaceutical pipeline, improving Crop Science's profitability, becoming leaner and more innovative through its new operating model, reducing debt, and mitigating legal risks in the United States. These measures are beginning to have tangible effects. For example, Bayer has successfully advanced its pharmaceutical pipeline. Building on the division's solid foundation, new product launches have shown very encouraging growth momentum. Regarding profitability in the Crop Science business, the company is already implementing initial measures within a comprehensive five-year framework. Bayer is also making progress in implementing Dynamic Shared Ownership. This new operating model is designed to radically eliminate bureaucracy and significantly accelerate decision-making, placing it primarily in the hands of those closest to customers and products.

Since implementing the new operating model, the company has significantly reduced the number of hierarchical levels within the organization, with the number of management positions almost halved. Bayer now has approximately 11,000 fewer positions. Thanks to these measures, the company is progressing toward achieving the €2 billion in savings it plans for 2026. Bayer has also succeeded in reducing its debt. Finally, the company is implementing a multi-pronged strategy as part of its efforts to significantly mitigate 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 significant challenges it is diligently addressing, he said. "With our mission 'Health for All, Hunger for None,' we address the needs of people around the world. This is what motivates my colleagues and is also something that inspires me every day. I firmly believe our team has the right focus and the right plan to become the leanest, fastest, and most innovative life sciences company. Team Bayer is 100% committed, and we are fully up to the task. I am delighted to be part of Team Bayer and would like to thank the members of the Supervisory Board—both shareholders and employee representatives—for the trust they have placed in me," Anderson said.