Dr. Richard Pott to be Chairman of the Supervisory Board of Bayer MaterialScience

At its meeting today, the Supervisory Board of Bayer AG agreed to the proposal made by the Board of Management of Bayer AG to appoint Dr. Richard Pott (61) to the Supervisory Board of Bayer MaterialScience AG effective March 26, 2015. It is intended that Dr. Pott should be elected as the new Chairman of the Supervisory Board of Bayer MaterialScience. In September 2014, Bayer announced its intention to float the MaterialScience business on the stock market by mid-2016 at the latest. Until now, Bayer Management Board member Werner Baumann has been the Chairman of the Supervisory Board of Bayer MaterialScience.

"We are pleased that Richard Pott is to be the Chairman of the Supervisory Board of Bayer MaterialScience. He is an experienced manager who knows the business very well," said Bayer CEO Dr. Marijn Dekkers. "Within the context of the planned stock market listing, Bayer MaterialScience will be operating autonomously with a strategy that is distinct from Bayer's. I am confident that Richard Pott will contribute his expertise and foresight in collaborating closely with the Bayer MaterialScience Board of Management to shape the company's successful development." Further members of the Supervisory Board are to be named ahead of the planned stock market listing of Bayer MaterialScience.

Dr. Richard Pott is a member of the supervisory boards of Freudenberg SE and Schott AG. He is also Chairman of the University Council of the University of Cologne. From 2002 to 2013, he served as a member of the Board of Management of Bayer AG with responsibility for Strategy and Human Resources. He was the company's Labor Director and responsible for the Americas, Africa and Middle East regions.

Source: Bayer MaterialScience