Clayton, Dubilier & Rice (CD&R) has appointed Dr Manfred Schneider, former chairman of pharmaceutical company Bayer, as an adviser.
In a career that has spanned over 45 years at Bayer, Dr Schneider held a number of positions including chairman of the board of management and chairman of the supervisory board. Dr Schneider is also on the supervisory boards of the industrial engineering company Linde, and energy utility RWE.
During his decade-long tenure as management board chairman, Dr Schneider saw Bayer’s market capitalisation grew by about 200 per cent. While CEO, he also focused on expanding Bayer’s research and development activities. He was responsible for international expansion and bolstering the company’s positions in North American and Asian markets.
“We are delighted to welcome Manfred to the firm,” said Donald Gogel, chairman and CEO, CD&R. “He is an exceptional global industrial leader with a track record of driving growth and innovation across three continents.”
“CD&R’s approach combining investment judgment and operational expertise is very compelling to me and has particular relevance to European companies seeking to respond to an uncertain and challenging economic environment,” added Dr Schneider.
CD&R was recently reported to be considering an acquisition of KAR Auction Services, in a deal that could fetch over $4bn.
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