New corporate structure for Bayer Chemicals
9 October 2003
Bayer Chemicals AG, along with two other divisions, achieved legal independence on September 30, 2003, when the carve-outs of their respective businesses from Bayer AG were entered in the commercial register. 'With this new corporate structure, we are creating the basis for future success', commented Werner Wenning, chairman of the Board of Management of Bayer AG. 'The new structure promotes these units' individual responsibility, thereby reinforcing their entrepreneurial approach. Our aim is to exploit the potential of our businesses to the full in order to create value and achieve a sustainable improvement in performance.' 'Bayer Chemicals is an innovative and progressive company', explained Dr Ulrich Koemm, chairman of the Board of Management of Bayer Chemicals AG. 'With our high-quality products and our first-class customer service, we are creating the basis for long-term success'.
