A controversial pesticide claims another victim—chairman of the board
The chairman of Bayer, the global pharmaceutical behemoth, will step down in April, Reuters reports. Werner Wenning helped lead a $60-billion takeover of Monsanto two years ago, which we thought could be a good thing, insofar as it would retire a controversial name. Little did we know the controversy was just getting started. The company has since lost hundreds of millions of dollars after courts ruled its signature pesticide gave a groundskeeper cancer, and dicamba drift killed peach trees in other fields. Bayer shares have lost a quarter of their value since the deal went through. Bigger ain’t always better.