Bayer managers face shareholders amid Monsanto fallout
BERLIN (AP) — Bayer’s top managers are facing shareholders amid discontent over the fallout from the German company’s acquisition of Monsanto, the maker of Roundup weed killer.
Chairman Werner Wenning told the annual general meeting in Bonn on Friday that company leaders “very much regret” falls in its share price. At the same time, CEO Werner Baumann insisted that “the acquisition of Monsanto was and remains the right move for Bayer.” Bayer acquired Monsanto for $63 billion last year.
Bayer is fighting lawsuits over the alleged carcinogenic effects of Roundup. The company says scientific evidence shows the product’s active ingredient, glyphosate, is safe.
Environmentalists protested outside the convention center where the meeting was being held. Beekeepers brought thousands of dead bees whose death they blamed on chemicals in the environment.