On January 10, 2023, Jeff Ubben, founder of Inclusive Capital Partners, L.P., announced that he has called for Bayer Aktiengesellschaft to hire a new chief executive from outside its management ranks as his investment fund on January 9, 2023, announced a stake in the Company. Jeff Ubben stated that the investment comes at a time for the Company, as the employment contract for chief executive Werner Baumann ends in April 2024. Jeff Ubben added that Werner Baumann has been criticized by shareholders for his ill-fated decision in 2016 to acquire Monsanto, the deal that brought roundup under the Company's ownership.

Jeff Ubben stated in an interview that he would prefer an external hire for the Company chief executive. Jeff Ubben added that the Company's business divisions are performing well, but the CEO has an obligation - among other obligations - to drive the stock price. Jeff Ubben stated that the existing management team has been unable to do so.

Jeff Ubben stated that the ultimate break-up of the Company is not necessary in his opinion to create value from here. But it has to be on the table.