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Bayer's new CEO plans to cut management jobs to speed up decision-making as a first step to overhaul the embattled German industrial group, which is facing investor pressure to break up, three people familiar with the matter said. Bill Anderson, at the helm since June, is keen to show investors speedy improvements and buy himself time to lay out broader restructuring plans over the next few months, the sources said. Anderson plans to soon present initial plans for cutbacks at an internal strategy meeting, one of the sources said, while another said the measures would affect middle-to-upper layers of management, resulting in as yet unspecified one-off costs for golden handshakes for departing employees.

Werner baumannEmma victoria farrLudwig burgerPatricia weissOliver kohlhaasDavid holmesJosephine masonBill andersonArtisan partnersBluebell capital partnersInitial plansIndustrial group