Bayer names new chairman for MaterialScience business

Feb 25 (Reuters) – Germany's Bayer named Richard Pott as supervisory board chairman of its plastics unit MaterialScience, which it plans to float on the stock market as a separate company.

"Within the context of the planned stock market listing, Bayer MaterialScience will be operating autonomously with a strategy that is distinct from Bayer's," Bayer Chief Executive Marijn Dekkers said in a statement on Wednesday.

Pott, 61, who oversaw personnel matters on Bayer's management board from 2002 to 2013, will assume his new office on March 26, it said. He will replace Bayer management board member Werner Baumann as chairman of MaterialScience. (Reporting by Maria Sheahan, editing by Edward Taylor)

http://www.reuters.com/article/2015/02/25/bayer-materialscience-chairman-idUSFWN0VZ03420150225