April 29, 2019 / 8:30 AM / a month ago

Asset manager DWS sees no merits in replacing Bayer top management

FRANKFURT (Reuters) - DWS, the asset management arm of Deutsche Bank, said on Monday it currently saw no merits in ousting Bayer’s top managers despite a recent share price slump.

DWS abstained in a vote at Bayer’s annual shareholder meeting to approve top management’s business conduct in 2018, which Bayer lost.

“This was a clear warning shot for management,” Nicolas Huber, Head of Corporate Governance at DWS, said in a statement, reiterating that Bayer executives had underestimated the legal risks of taking over Monsanto.

Reporting by Ludwig Burger; Editing by Michelle Martin

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