Bayer’s CEO cut managers by 70%. Now comes the hard part

Bayer CEO Bill Anderson has reduced the number of managers in his 163-year-old health science company by 70%, transitioning from a hierarchical structure to smaller teams working on 90-day cycles. While the ambitious move has led to improved profitability and a surge in investor enthusiasm, the next challenge lies in driving continued revenue and profit growth.

To tackle this, Anderson is shifting decision-making power to the bottom of the organization, prioritizing vision-setting over micromanagement. He emphasizes that the company's mission should take precedence over shareholder interests, and employees should come before senior management. However, Anderson acknowledges that this cultural transformation is ongoing and hard, asserting that most corporate transformations are merely rearrangements of existing structures.