Pharmaceutical company Bayer recently announced that it plans to drastically cut bureaucracy and move to a decentralized system that will see its nearly 100,000 employees largely managing themselves.
Bill Anderson, Bayer CEO since 2023, calls the plan “dynamic shared ownership”, and hopes the shake-up will revitalize the 160-year-old company, which has seen its stock decline more than 50 percent in the last year.
“People love the company; they love the sort of culture and the science and the commitment to patients, but they basically said, ‘Increasingly, we can’t get anything done,'” Anderson said in an interview with Business Insider.
