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Bayer announced today that current President and CEO of Bayer Corporation, Dr. Attila Molnar, will retire from the company after serving for 30 years. Current PTC Board Member and President and CEO of Bayer MaterialScience, Greg Babe, will replace Molnar effective October 1, 2008.

In a statement released by Bayer:

Babe (51) will continue in his current role as President and CEO of Bayer MaterialScience LLC, where he has led the BMS NAFTA region since 2004. He was previously head of Bayer Corporate and Business Services LLC, and thus responsible for central administration and service activities in the United States and Canada. Babe has held various management positions in the Bayer Group organization, including assignments in Germany, since joining the company in 1978. A native of West Virginia, Babe holds a Bachelor of Science degree in mechanical engineering from West Virginia University.

Greg was recently interviewed by TEQ Magazine in an article entitled “The Best Stuff: How WPA Became a World Center of Material Science.”

Company: Bayer Corporation Web Site: www.bayer.com Location: Pittsburgh, PA 15205 Description: Bayer Corporation, headquartered in Pittsburgh, is part of the worldwide Bayer Group, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. Read more.