Greg Babe Named Chairman of Bayer USA Foundation
October 09 2008 - 8:28AM
Business Wire
Greg Babe has been named Chairman of the Bayer USA Foundation in
addition to his new role as President and CEO of Bayer Corporation
(NYSE:BAY), both effective October 1, 2008. The Bayer USA
Foundation is one of three global foundations in Bayer�s corporate
social responsibility portfolio. Since 2004, Babe has served as a
member of the Board of Directors of the Bayer USA Foundation. As
Chairman of the Bayer USA Foundation, Babe will oversee the
activities of Bayer Corporation�s philanthropic arm, which in 2007
awarded nearly $5 million in grants to nonprofit organizations
throughout the country. Under Babe�s new leadership, the mission of
the Bayer USA Foundation will remain consistent. It will continue
to support programs that enhance the quality of life, provide
unique and enriching opportunities that connect diverse groups and
ensure preparedness for tomorrow's leaders -- thereby, resulting in
sustainable partnerships that continually improve communities in
which Bayer employees live and work. Bayer USA Foundation�s four
giving areas include Arts and Culture; Education and Workforce
Development; Environment and Sustainability; and Health and Human
Services. �Strengthening our communities and supporting
organizations dedicated to this important work is something that
Bayer and the Bayer USA Foundation have been committed to for a
half century,� said Greg Babe, Chairman of the Bayer USA Foundation
and President and CEO of Bayer Corporation and Bayer
MaterialScience LLC. �I plan to continue that tradition and take
great pride in some of the innovative programs Bayer is supporting
nationwide.� Greg Babe Begins Role as CEO of Bayer Corporation As
announced July 31, 2008, the Management Board of Bayer AG named
Greg Babe as President and CEO of Bayer Corporation and the Senior
Bayer Representative in North America, succeeding Dr. Attila
Molnar, who retired from the company after 30 years of service,
effective October 1, 2008. Bayer Corporation is the U.S. subsidiary
of the Bayer Group of Germany, a EUR 32 billion global enterprise
with core competencies in the fields of health care, nutrition and
high-tech materials. Babe, 51, will maintain his role as President
and CEO of Bayer MaterialScience LLC, one of the leading producers
of polymers and high-performance plastics in North America and a
part of the global Bayer MaterialScience business. Prior to this
position which he has held since 2004, Babe was President and CEO
of Bayer Corporate and Business Services LLC, where he was
responsible for providing expertise and support in engineering,
information systems, procurement, materials management, human
resources, financial, accounting and other business services to
Bayer Corporation and its affiliates. Since joining Bayer in 1978,
Babe has held several management positions of increasing
responsibility, including manager of the Brunsb�ttel, Germany,
facility; director and general manager of Hennecke Machinery, then
a unit of Bayer�s Polymers Division in Pennsylvania; vice president
of corporate quality; and director of a national program to
implement Bayer�s enterprise resource planning system. He was named
senior vice president of information services in 1999 before being
named president and CEO of Bayer Corporate and Business Services
LLC in 2003. Babe serves on the Boards of Directors for Bayer
MaterialScience LLC; Deerfield Urethane, Inc.; and Sheffield
Plastics. In addition, he is the chair of the Bayer Political
Action Committee (BAYPAC). For five years he served as the
executive sponsor of the Bayer Diversity Advisory Council. Babe
also is serving his second term as chairman of the American
Chemistry Council�s Plastics Division Operating Committee. In
Pittsburgh, he is a member of the Executive Committee and Board of
Directors of the Pittsburgh Technology Council and a member of the
Executive Committee and Board of Directors at Duquesne University,
serving as Vice Chair of Audit and Finance. Babe is also a member
of West Virginia University�s College of Engineering and Mineral
Resources Advisory Committee. A native of West Virginia, Babe holds
a Bachelor of Science degree in mechanical engineering from West
Virginia University. Babe and his wife, Carla, have four children
and live in Mt. Lebanon, Pa. Babe will remain in Pittsburgh, which
serves as Bayer North American regional headquarters and Bayer
MaterialScience NAFTA headquarters. About Bayer USA Foundation The
Bayer USA Foundation is an endowed 501(c)(3) entity and is the
primary source of Bayer Corporation�s philanthropy in the United
States. With a programmatic focus on the environment and
sustainability; education and workforce development; arts and
culture; and health and human services, the foundation creates and
supports organizations that improve communities in which Bayer
employees live and work, as well as society at large. The Bayer USA
Foundation is one of three Bayer foundations worldwide, including
the Bayer Science & Education Foundation and the Bayer Cares
Foundation. About Bayer Corporation Bayer Corporation,
headquartered in Pittsburgh, is a subsidiary of Bayer AG, an
international health care, nutrition and innovative materials group
based in Leverkusen, Germany. In North America, Bayer had 2007 net
sales of $12 billion and employed 16,800 at year end. Bayer�s three
subgroups, Bayer HealthCare, Bayer CropScience and Bayer
MaterialScience, improve people�s lives through a broad range of
essential products that help diagnose, prevent and treat diseases;
protect crops and enhance yields; and advance automobile safety and
durability. Forward-Looking Statements This news release contains
forward-looking statements based on current assumptions and
forecasts made by Bayer Group management. Various known and unknown
risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation,
development or performance of the company and the estimates given
here. These factors include those discussed in our annual and
interim reports filed with the Frankfurt Stock Exchange. The
company assumes no liability whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
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