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Bayer CEO says to refrain from any board manadates after 2024- manager magazin

Reuters
·1-min read
FILE PHOTO: Bayer CEO Baumann is pictured at the annual results news conference in Leverkusen

FRANKFURT (Reuters) - The chief executive of Bayer, who engineered the takeover of seeds maker Monsanto, will not seek any corporate board seats after his current term expires in 2024, he told German monthly Manager Magazin.

Baumann plans to "all but retire from corporate public life," afterwards, he was quoted as saying.

"I will simply do something completely different," he added.

Bayer said in September that Baumann's contract has been extended until 2024. The 57-year-old said at the time he could have been given a longer term, but opted for a shorter contract to "accommodate my personal plans".

(Reporting by Ludwig Burger; Editing by Riham Alkousaa)