Bayer AG (ADR) (OTCMKTS:BAYRY) almost tested the last swing high around $132 levels and finally closed at the end of the last trading session with a gain of 2.02%. The stock jumped up with a gap up in the opening moment and managed to protect the upside for the rest of the day. The volume of the day at 35,000 was lower than the daily average of 52,000, not very supportive of the gains made. The stock has just tested the long term support area around $123 levels and as long as it holds above that level, the bulls may be safe.
Short after being economically and legally separated from Convestro, Bayer AG (ADR)(OTCMKTS:BAYRY) has started making attempts to convert itself into a Life Science business leader. The supervisory board has already approved the reorganization proposal submitted by the Board of Management.
Insights On Matter
If everything goes as per plans, these changes will be regularized starting from January 1, 2016. Upon its transformation into a Life Science company, Bayer AG will be operated and managed by three primary divisions – consumer health, pharmaceuticals, and crop science.
As of now, Bayer’s structure consists of a strategic management holding company and many operational subgroups. Once the change is introduced, this structure will be replaced by a centralized organization under the Bayer brand.
Management Call
The senior management of the company is delighted to announce this change and hopes that things will continue to improve as the time passes. According to Dr. Marijn Dekkers, Chairman – Board of Management, Bayer, the prime objective of this newly proposed company will be to offer best-in-class support to Bayer’s strategy formulation as a Life Science leader. Apart from this, it will also work towards strengthening company’s position in the Life Science industry and help it getting an edge over its competitors in the market.
Bayer seeks to improve its business process excellence, sharpen customer focus and improve innovation strength. The Board of Management of Bayer AG will centrally hold the overall responsibility for business operations in the newly proposed organization.
According to Werner Wenning, Chairman, Supervisory Board of Bayer, it’s a good time to integrate these changes as the company enjoys an excellent position in the market. Once Bayer starts delivering results, the role of both the boards will be assessed once again. Wenning further added that Bayer has come this far due to individual as well as team performances. It would never be possible to enjoy this success and set new targets if company’s employees hadn’t worked well in the same direction.
