Germany’s Bayer (ETR: BAYN) has taken significant steps in its restructuring efforts by eliminating 8 out of 14 C-level positions, including key roles such as the head of global marketing, head of radiology, and president of the consumer health division. This move is part of the company’s strategy to simplify its hierarchical structure and enhance profitability.
As part of the overhaul, Bayer will separate its Chief Medical Officer (CMO) from the leadership team, and the future of the Chief Financial Officer (CFO) and the head of the China branch remains undisclosed at this time. The company has also announced the creation of a global commercialization unit, which will absorb the responsibilities of the now-defunct oncology, global marketing, and digital and commercial innovation divisions. The former head of oncology will take the helm of this new unit and will work in conjunction with a new Chief Operating Officer (COO) to report to the pharmaceutical unit president, Stefan Oelrich.- Flcube.com
