Bayer begins search for new chief executive

NEW YORK: Bayer AG has quietly started the search for a successor to chief executive officer (CEO) Werner Baumann, raising the prospect of an early departure, according to people familiar with the matter.

Chairman Norbert Winkeljohann is fielding internal and external contenders with the goal of presenting a new candidate by the next annual shareholders’ meeting in April, the people said, asking not to be identified discussing confidential information.