Bayer names new president

JAKARTA (JP): Publicly listed pharmaceutical company PT Bayer Indonesia Tbk., a subsidiary of the German-based Bayer Group, has appointed Hans-Josef Schill as president upon the retirement of Wolfgang Piroth.

Schill's appointment was approved during the company's annual shareholders meeting in Jakarta on Monday.

The shareholders also endorsed the appointment of Peter Glaessel as the company's deputy chief commissioner. He will share the position with J. Reisdorff.

The company stated that the shareholders also received the resignation of R.D. Petrich as a director.

The above picture shows Piroth congratulates Schill and Glaessel.

Bayer Indonesia, which operates pharmaceuticals and consumer care products factories, booked a net profit of Rp 52.77 billion (about US$4.9 million at the current rate) last year, a 29 percent increase from the Rp 41.06 billion profit recorded in the previous year.

The company's gross sales declined by about 7 percent to Rp 667.12 billion in 2000, from Rp 714.96 billion in 1999, partly due to the company's lower export earnings.

However domestic sales rose by 5.3 percent to Rp 609.80 billion, from 579.00 billion in 1999.

Shareholders also approved the management's proposal to pay a cash dividend of Rp 180 for each share of its preferred stocks and Rp 120 for each of its common stocks.(03)