Bruce Olson leaving Bayer

Lanxess Management Board to be reduced to four members

05-Aug-2004

Leverkusen - Bruce Olson (52), member of the Board of Management of Bayer Chemicals AG, will leave Bayer at his own request on August 31, 2004 to take up a new position with a U.S. company. He is therefore no longer available to become a Board member at Lanxess, the new company into which Bayer is placing its chemicals and parts of its polymers activities with the aim of listing it on the stock market as an independent company at the beginning of 2005.

In light of Mr. Olson's departure, the company is taking the opportunity to reduce the size of the future Lanxess Board of Management from five members to four.

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