Shareholders at the chemical giant Bayer voted massively against the companys board today at a meeting that revealed intense frustration over the German companys acquisition of glyphosate-maker Monsanto last year.
After a more than 12-hour meeting in Bonn, just 44.48 percent of shareholders at the annual shareholders meeting voted in favor of the management board led by Chief Executive Werner Baumann. That was down from 97 percent at last years shareholders meeting, which took place just before Bayer took over Monsanto. Although the vote is not legally binding, it throws Baumanns future into question.
His approval rating is worse than a vote in 2015 at Deutsche Bank when the CEOs Anshu Jain and Jürgen Fitschen scored ratings of 61 percent, leading to their resignations.
The companys share price has fallen roughly 40 percent since August last yearRead More – Source