Resignation of the chief of agriculture after Monsanto purchase Signal for renewal

The manager leaves – the share rises: This is what happened at Bayer AG after the head of the agricultural business, Liam Condon, announced his retirement at the end of the year. The long-time Bayer manager knows that the applause on the stock market was primarily for Bayer’s strong quarterly figures and less for his departure.

And yet: A resignation is always a reaction to a development and a signal – in this case one of renewal. Three years after the completion of the takeover of Monsanto, this ambitious project was not reflected in either the expected stable profit contributions or an increase in value on the stock exchange.

There are many reasons for that. For a long time, the billions in glyphosate legal charges alone were seen as a drag on the share price. It became more and more evident that many investors are fundamentally not yet convinced of the sense of Bayer’s project of the century. The numerous operational problems in recent years have contributed to this.