Bayer has hired the head of Nestle's baby food business, Heiko Schipper, to run its struggling consumer health division.
Schipper will be replacing the current head of the division, Erica Mann, in March next year.
“Heiko Schipper has extensive international experience in the consumer market. We are convinced that he will successfully lead Bayer’s Consumer Health business,” said Werner Wenning, Chairman of the Supervisory Board of Bayer AG.
Bayer’s consumer health business has been challenged by the speed of U.S. consumers switching to online stores at the expense of established drugstores. Consumers are using e-commerce channels to compare prices and search for value.
Bayer’s OTC unit, boosted by a $14 billion acquisition of brands from U.S. rival Merck & Co in 2014, reported a 7.4 percent fall in third-quarter sales.
Read the press release