Bayer to Propose Hike in Supervisory Board Compensation
March 12 2021 - 5:06AM
Dow Jones News
By Joshua Stein
Bayer AG said Friday that it will propose to increase
compensation to supervisory board members at its annual
stockholders meeting, and will suggest two stockholder
representatives be elected to the supervisory board.
The German chemical and pharmaceutical conglomerate said the
current level of compensation isn't in line with market conditions,
and will propose to increase the fixed annual compensation for
supervisory board members to 160,000 euros ($191,752) from
EUR132,000 at the April meeting.
Bayer will also recommend an overall reduction and greater
differentiation in additional compensation for service on
committees, which it said would account for different workloads at
different committees.
The company added that it will put forward Fei-Fei Li and
Alberto Weisser, two representatives of stockholders, for election
to the supervisory board at the meeting, both for four-year
terms.
Li and Weisser would succeed Johanna Faber and Wolfgang
Plischke, who will not be seeking reelection to the board, the
Bayer said.
Write to Joshua Stein at joshua.stein@wsj.com
(END) Dow Jones Newswires
March 12, 2021 04:51 ET (09:51 GMT)
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