Dr. Axel Steiger-Bagel appointed Chief Administration Officer of Bayer MaterialScience AG
Friday - February 23, 2007 - Leverkusen – Dr. Axel Steiger-Bagel (39) has been appointed Chief Administration Officer (CAO) of Bayer Material Science AG effective March 1, 2007. He will be a member of the Management Board and Executive Committee of this Bayer subgroup. Steiger-Bagel succeeds Prof. Dr. Gottfried Plumpe who is leaving the company by mutual consent, as previously reported.
Axel Steiger-Bagel was born on December 29, 1967 and trained as a bank clerk before taking a law degree. After graduating, he went on to obtain a PhD in international company law from the University of Bonn in Germany in 1997. He then spent two years working for a law firm in Bonn, during which time he spent several months in the United States, and joined the Legal Department at Bayer AG in 1999. At the beginning of 2002 he transferred to the staff department serving the Board of Management of Bayer AG, where he worked as an assistant to the Chairman of the Board of Management.
Steiger-Bagel has been Senior Bayer Representative and Bayer HealthCare Senior Country Representative in Turkey since mid-2006.
He is married and has one child.
With sales of EUR 10.7 billion in 2005, Bayer MaterialScience AG is one of the world’s largest polymer manufacturers. Its main fields of activity are the production of high-tech polymer materials and the development of innovative solutions for products used in many areas of everyday life. The main consumer sectors are the automotive, electrical/electronics, construction, sports and leisure industries. At the end of 2005, Bayer MaterialScience had production facilities at 40 sites around the world and a workforce of approx. 18,800. Bayer MaterialScience is part of the Bayer Group.
More news and information about products, applications and services of Bayer MaterialScience can be found at www.bayerbms.com. Further company facts and figures are outlined at www.facts.bayerbms.com.
This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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