LEVERKUSEN (dpa-AFX) - Activist shareholder Jeffrey Ubben may soon sit on Bayer 's Supervisory Board. The Supervisory Board has decided to propose him for election at the Annual General Meeting on April 26, 2024, the DAX-listed company announced on Thursday. Ubben announced a 0.8 percent stake in the pharmaceutical and agrochemical company at the beginning of 2023. He was one of the investors who had called for an external successor to the then outgoing CEO Werner Baumann. In June 2023, Bill Anderson from the US actually took over as CEO of the Leverkusen-based company.

Ubben "is an internationally renowned major investor and can significantly enrich our work, especially with his many years of financial and capital market experience," said Supervisory Board Chairman Norbert Winkeljohann in a statement on Thursday. He rounds off the profile of the Supervisory Board.

In addition to the hedge fund manager and founder of Inclusive Capital Partners, lawyer Lori Schechter and biotech expert Nancy Simonian are also up for election. With this step, "we want to further significantly strengthen the expertise of the Supervisory Board," Winkeljohann continued.