Bayer CEO faces growing opposition from shareholders

India

BERLIN: Bayer AG is facing mounting opposition ahead of what’s shaping up to be its most contentious annual meeting in years, with influential shareholders faulting management for failing to foresee the risks of the company’s biggest deal.

A growing number of shareholders have said they won’t support executives and supervisory board members in a no-confidence vote at Friday’s annual meeting in Bonn, Germany. Though the vote has no legal weight, a low enough approval rating would throw into question the future of the leaders who orchestrated the US$63bil acquisition of US agriculture giant Monsanto.