FRANKFURT (Reuters) – Top three Bayer shareholder Harris Associates on Thursday came out in strong support of the drugmaker’s strategy to suspend work on a separation of the diversified group and to focus on improving the company’s operating performance.
(CEO) “Bill Anderson is absolutely taking the right path to enhance value creation at Bayer which will benefit all of Bayer’s stakeholders,” Harris Associates’ Vice Chairman David Herro told Reuters in a written statement, responding to a request for comment on the group’s capital markets day this week.
He said the CEO was rightly focusing on efforts to “turn three very good businesses into great businesses”.
“Once this is accomplished, then you have optionality in terms of corporate structure,” Herro added.
(Reporting by Ludwig Burger; Editing by Madeline Chambers)
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