Clayton, Dubilier & Rice has bolstered its coterie of advisors with the addition of Manfred Schneider, a former chair of pharmaceutical company Bayer AG’s supervisory board.
Schneider stepped down from his role at Bayer last month, after spending a decade at the helm of the company’s supervisory board. During his tenure, Bayer’s market capitalisation grew by around 200 percent, according to a release. He also oversaw the company’s expansion in North American and Asian markets.
CD&R chairman and chief executive officer Donald Gogel cited Schneider’s “track record of driving growth and innovation across three continents” as one qualification for his addition to the firm’s advisory roster.
“CD&R's approach combining investment judgment and operational expertise is very compelling to me and has particular relevance to European companies seeking to respond to an uncertain and challenging economic environment,” said Schneider said in a statement.
A spokesperson for CD&R was unavailable for comment.
CD&R's advisory group includes a number of luminaries, including alums of General Electric, Eaton Vance, Atkore International, BAE Systems, Barclays, Dow Chemical Company and Aetna.
In July, CD&R appointed General Electric’s former vice chairman John Krenicki to its board of operating partners. The firm already counts Jack Welch, GE’s longtime chief executive officer, as a senior advisor. The firm’s other senior advisors are former Broadgate Consultants CEO Thomas Franco, Proctor & Gamble chairman Alan Lafley and former Tesco CEO Terence Leahy.
CD&R was founded in 1978. The firm has managed around $18 billion in investments across 52 businesses and maintains offices in New York and London.
Firm co-founder Joseph Rice stepped down from his role as chairman earlier this year. He announced his intention to relinquish the role in a letter to investors published by The New York Times in April.