Supervisory Board of Bayer AG extends service contract of CFO Johannes Dietsch to the end of May 2018
Leverkusen, April 27, 2017 – The Supervisory Board of Bayer AG has extended the current service contract of Chief Financial Officer Johannes Dietsch (55) until May 31, 2018. After that date, Johannes Dietsch will be leaving the company at his own request. “Designing the detailed financing of the Monsanto acquisition and the ongoing approval and integration processes are key milestones of the transaction which still lie ahead of us. With his expertise, Johannes Dietsch will be providing substantial support in this important phase and helping to lead the Monsanto acquisition to a successful conclusion,” said Werner Wenning, Chairman of the Supervisory Board of Bayer AG. “Over the past 35 years, Johannes Dietsch has contributed to the success of Bayer in a number of different functions. We are very grateful to him for this service and would like to wish him all the best for when he leaves the Bayer Board of Management.” Dietsch’s successor as CFO will be announced at a later date.
Johannes Dietsch has been a member of the Board of Management of Bayer AG since September 1, 2014. He is responsible for Finance and for the Asia/Pacific and North America regions. Dietsch was born in Wermelskirchen, Germany, on January 2, 1962. After graduating from high school, he joined Bayer as a commercial trainee. On completion of his training in 1984, he held a number of management positions in various departments within the company. He gained several years of overseas experience during two assignments at Bayer Japan Ltd., latterly as Chief Financial Officer in finance and administration. On July 1, 2002, Dietsch became Head of Finance in the Corporate Center of Bayer AG. His area of responsibility included Treasury, Corporate Finance, Financial Controlling, Asset Management Pensions, Mergers & Acquisitions and Taxes. In September 2011, he was appointed as Senior Bayer Representative and CFO for Greater China at Bayer China in Shanghai. Johannes Dietsch is married and has three children.
Bayer: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2016, the Group employed around 115,200 people and had sales of EUR 46.8 billion. Capital expenditures amounted to EUR 2.6 billion, R&D expenses to EUR 4.7 billion. These figures include those for the high-tech polymers business, which was floated on the stock market as an independent company named Covestro on October 6, 2015. For more information, go to www.bayer.com.
Cautionary Statements Regarding Forward-Looking Information
Certain statements contained in this communication may constitute “forward-looking statements.” Actual results could differ materially from those projected or forecast in the forward-looking statements. The factors that could cause actual results to differ materially include the following: uncertainties as to the timing of the transaction; the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected time-frames or at all and to successfully integrate Monsanto’s operations into those of Bayer; such integration may be more difficult, time-consuming or costly than expected; revenues following the transaction may be lower than expected; operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) may be greater than expected following the announcement of the transaction; the retention of certain key employees at Monsanto; risks associated with the disruption of management’s attention from ongoing business operations due to the transaction; the conditions to the completion of the transaction may not be satisfied, or the regulatory approvals required for the transaction may not be obtained on the terms expected or on the anticipated schedule; the parties’ ability to meet expectations regarding the timing, completion and accounting and tax treatments of the merger; the impact of the refinancing of the loans taken out for the transaction, the impact of indebtedness incurred by Bayer in connection with the transaction and the potential impact on the rating of indebtedness of Bayer; the effects of the business combination of Bayer and Monsanto, including the combined company’s future financial condition, operating results, strategy and plans; other factors detailed in Monsanto’s Annual Report on Form 10-K filed with the SEC for the fiscal year ended August 31, 2016 and Monsanto’s other filings with the SEC, which are available at http://www.sec.gov and on Monsanto’s website at www.monsanto.com; and other factors discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. Bayer and Monsanto assume no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date.