BERLIN : Temasek, the sovereign wealth fund of Singapore and a major shareholder in Bayer, will back the re-election of the German pharmaceuticals company’s supervisory board chair, the Wirtschaftswoche news outlet reported on Monday.
Shareholders are due to vote on another term for Norbert Winkeljohann at Bayer’s annual general meeting on April 28. The drugmaker has been the target of activist investors in the run-up to a change of CEO on June 1.
Temasek wants to “facilitate stability and continuity in times of upheaval”, Wirtschaftswoche quoted the shareholder as saying.
(Writing by Rachel More)