LONDON and NEW YORK, Oct. 1, 2012 /PRNewswire/ -- Clayton, Dubilier & Rice today announced that Dr. Manfred Schneider, former Chairman of the Supervisory Board of Bayer AG, the global pharmaceutical company, has become a CD&R advisor.
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 Linde AG, the industrial engineering company and RWE AG, the utility company.
During his decade-long tenure as Management Board Chairman, Dr. Schneider succeeded in expanding Bayer's global market position consistently for ten years, achieving record financial results. During this period, Bayer's market capitalization grew by about 200 percent. While CEO, Dr. Schneider focused on expanding Bayer's research and development activities. He was also responsible for significant 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 J. Gogel, Chairman and Chief Executive Officer of 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," said Dr. Schneider. "I look forward to working with a Firm that is one of the true pioneers of the industry."
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private equity firm with an investment strategy predicated on building stronger, more profitable businesses. CD&R has managed the investment of approximately $18 billion in 52 businesses representing a broad range of industries with an aggregate transaction value of more than $80 billion. The Firm has offices in New York and London. For more information, please visit www.cdr-inc.com.
Daniel G. Jacobs
Clayton, Dubilier & Rice
SOURCE Clayton, Dubilier & Rice