April 26, 2019
SumOfUs, an international consumer group, expresses contentment in Bayer’s shareholders’ decision to not ratify the actions of the Bayer board.
55.5% of Bayer-Monstanto’s shareholders voted not to ratify the board. Two main proxy advisors recommended against ratifying the actions of management - but the vote was still predicted to go in favour of management on the day. Bayer’s board and its CEO Werner Baumann infamously oversaw the merger with the agrochemical giant Monsanto.
In response, Anne Isakowitsch, Campaign Manager at SumOfUs, an international consumer group, released the following statement:
“Today’s vote shows that the Bayer CEO’s star is falling. Baumann’s ruthless quest for profit is making more and more shareholders uncomfortable. Today’s vote is unprecedented and more than a slap on the wrist for Bayer’s management -- it’s a wake-up call. Bayer used to be a company famous for curing people from sickness -- now with the acquisition of Monsanto, it’s going to be known as the company that is poisoning people. Evidence that products such as RoundUp and Lasso are causing harm to workers who provide our food and care for our land is overwhelming and impossible to ignore. Bayer-Monsanto needs new leadership that will recognize the harm it's causing to people and the planet and make a real commitment to protecting our health. Over 176,000 SumOfUs members worldwide demand a change in Bayer-Monsanto’s leadership and today’s vote feels like a confirmation for our campaign. We will continue challenging the corporation at every opportunity.
SumOfUs.org is a global movement of consumers, investors, and workers all around the world, united together to hold corporations accountable for their actions and forge a new, sustainable and just path for our global economy.