Shares drop 4.6
To be hit by cost inflation, lower glyphosate, Xarelto prices
CEOdesignate Anderson to take helm in June
Departing CEO Baumann says company structure in good shape

FRANKFURT, Feb 28 Reuters Bayer warned operating earnings would decline in 2023, adding to the challenges for its new CEO who will take the helm in June, as the agriculture and healthcare company is hit by higher costs and the reversal of last year39;s price boost for its weedkillers.

The downbeat outlook, which pushed its shares nearly 5 down to a fourweek low on Tuesday, comes after a new chief executive was appointed to take over in June, sparking speculation the company might prepare to break up.

Bayer said in a statement that earnings before interest, taxes, depreciation and amortisation EBITDA, adjusted for special items, would likely be between 12.5 billion euros and 13 billion euros 13.2 billion 13.8 billion this year, excluding the effect of currency swings.

That would be a decline from the 13.5 billion reported for 2022, which was up 20.9 from a year earlier and slightly higher than analysts had expected on average, according to a consensus estimate posted on the company39;s website.

Chief Executive Werner Baumann, who is scheduled to quit at the end of May, defended the company39;s presence in agriculture and healthcare.

We really are living through a time of major upheavals, he told journalists on a call. It means that were active in the right fields, since health and…