MOSCOW (MRC) -- Germany's Bayer named Richard Pott as supervisory board chairman of its plastics unit MaterialScience, which it plans to float on the stock market as a separate company, as per Reuters.
"Within the context of the planned stock market listing, Bayer MaterialScience will be operating autonomously with a strategy that is distinct from Bayer's," Bayer Chief Executive Marijn Dekkers said in a statement on Wednesday.
Pott, 61, who oversaw personnel matters on Bayer's management board from 2002 to 2013, will assume his new office on March 26, it said. He will replace Bayer management board member Werner Baumann as chairman of MaterialScience.
As mRC wrote before, Bayer AG said it plans to increase its dividend for 2014, in a statement ahead of fourth-quarter results. The drugs and chemicals company said it will propose a dividend of EUR2.25 per share for 2014, up from the EUR2.10 a share dividend paid for 2013. With 826.9 million shares entitled to the dividend, the total dividend payment will come to around 1.86 billion euro, up 7.1% from the payout for 2013.
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer’s products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power.
MRC