FRANKFURT, Sept 14 (Reuters) - Bayer's (BAYGn.DE) new CEO plans to cut management jobs to speed up decision-making as a first step to overhaul the embattled German industrial group, which is facing investor pressure to break up, three people familiar with the matter said.
But the new CEO will likely have only a short respite period to come up with concrete strategic proposals.
Anderson has been tasked with reviving Bayer's share price, which has underperformed rivals, weighed down by the lingering costs of U.S. weedkiller litigation.
Anderson said last month he was not ruling out any options as part of his review of the company's strategy and structure, saying he was "leaving no stone unturned".
He added he would provide an initial update in the coming months and detailed plans in early 2024.
Persons:
Bill Anderson, Anderson, Roche, Oliver Kohlhaas, Kohlhaas, Werner Baumann, Ludwig Burger, Patricia Weiss, Emma, Victoria Farr, Josephine Mason, David Holmes
Organizations:
Bayer, McKinsey, Artisan Partners, Reuters, Bluebell Capital Partners, Thomson
Locations:
FRANKFURT, Frankfurt