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Bayer: to cut size of management board

(CercleFinance.com) - Two members are stepping down from Bayer's management board, neither of whom will be replaced, meaning that the board's size will be cut from seven to five members.

As from 1 January 2020, Bayer's board will just consist of chairman Werner Baumann, chief financial officer Wolfgang Nickl and division presidents Liam Condon (crop science), Stefan Oelrich (pharmaceuticals) and Heiko Schipper (consumer health).

At the end of the year, Hartmut Klusik - head of human resources - and Kemal Malik - in charge of innovation - will leave the company.

By streamlining the structure of its management board, Bayer plans to optimize responsibilities and contribute to the company's ongoing efficiency program.

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