Tuesday, a new chief executive and other top managers were announced by German conglomerate Bayer AG, in a broad management shuffle.

The new chief executive for Bayer, which makes chemicals and pharmaceuticals, will be Marijn Dekkers, a 51-year-old Dutchman who presently is the chief executive of U. S. laboratory-equipment manufacturer Thermo Fisher Scientific Inc, and will replace Werner Wenning, 62, in September 2010.

The contract for Mr. Wenning expires next year. More surprising news was that Arthur Higgins, 52, head of Bayer's health-care unit will bid adieu to the company in the first half of 2010, along with chief financial officer Klaus Kühn, 58.

Bayer, via a statement, described personal reasons as the reason behind Mr. Higgins departure. The company said that, on the other hand, Mr. Kühn would take early retirement.

"The pair may be leaving because they didn't get the chief executive job," as per Cornelia Thomas, a pharmaceutical analyst at WestLB in London. No comments could be received by Bayer on it.

It was informed by Bayer that before Mr. Dekkers takes on the post of the CEO, he will serve as Mr. Higgins's replacement as head of Bayer healthcare, temporarily.

Meanwhile, the post of Mr. Kühn as finance chief will be taken over by Werner Baumann, currently an executive in the health-care unit, when the former leaves.

Meanwhile, it was informed by Thermo Fisher that from 15th October, Marc Casper, currently chief operating officer, will succeed Mr. Dekkers as chief executive.