The Supervisory Board of Bayer AG has announced the appointment of Dr. Judith Hartmann to the company’s Board of Management, marking a significant leadership transition for the German life sciences and healthcare giant. Effective March 1, 2026, Dr. Hartmann will assume her new position on the Board and is set to succeed Wolfgang Nickl as Chief Financial Officer (CFO) on June 1, 2026. Nickl, who has served as Bayer’s CFO since 2018, will retire at the end of May 2026 as part of a long-planned leadership succession strategy.
Dr. Hartmann’s appointment signals Bayer’s intention to further strengthen its financial stewardship, strategic focus, and global transformation efforts during a period of both challenge and opportunity for the company. Currently, Dr. Hartmann is an Operating Partner at Sandbrook Capital, a private investment firm dedicated to building high-growth, climate-focused infrastructure companies. Her experience in overseeing complex financial operations, combined with her background in sustainability-related sectors, positions her as a valuable addition to Bayer’s executive team as the company continues to adapt to shifts in global markets, regulatory environments, and competitive landscapes.
Before joining Sandbrook Capital, Dr. Hartmann established a distinguished executive career across multiple sectors and continents. She served as Chief Financial Officer and Deputy Chief Executive Officer at ENGIE, the France-based multinational energy and services company. At ENGIE, she played a pivotal role in restructuring and repositioning the company as it navigated the global shift toward renewable energy, digitalization, and decarbonization. Her tenure included significant portfolio optimization efforts, leadership of global finance functions, operational oversight in multiple regions, and contributions to ENGIE’s broader corporate strategy.
Dr. Hartmann also previously served as Group CFO at Bertelsmann, the German media, services, and education conglomerate. There, she contributed to major acquisitions, digital expansion initiatives, and the strengthening of the company’s international portfolio. Earlier in her career, she held numerous management and financial leadership positions at General Electric (GE), where she worked in the United States, Europe, and Latin America. Her GE experience spanned both operational and financial roles, including positions within GE Healthcare and GE Energy—two divisions where she gained exposure to sectors closely linked to Bayer’s own core businesses in life sciences and sustainable technologies.
Professor Dr. Norbert Winkeljohann, Chairman of Bayer AG’s Supervisory Board, expressed confidence in the selection of Dr. Hartmann, citing her global leadership experience and ability to drive transformation. “With Judith Hartmann, Bayer is gaining a highly accomplished leader with vast international experience. She brings both strategic insight and strong operational skills,” said Winkeljohann. “Throughout her career, she has demonstrated transformational leadership—guiding businesses through challenges and discovering new opportunities. We are convinced that she will make a great contribution to the future of the company.”
Winkeljohann also paid tribute to outgoing CFO Wolfgang Nickl, whose tenure was marked by significant structural and operational improvements across the organization. “Wolfgang Nickl has built a strong foundation over the past seven years as CFO. Under his leadership, the structure and operations have been dramatically simplified with further improvements in the effectiveness of the organization and extensive efficiency gains. We are very grateful for this,” he added.\
Dr. Hartmann’s academic background lays the groundwork for her strong analytical and financial capabilities. She studied at the Vienna University of Economics and Business, earning a master’s degree in business administration before completing her Ph.D. in Economics in 1997. Soon thereafter, she launched her international career by joining The Walt Disney Company in Paris, gaining early exposure to corporate finance and global operations.
In 2000, she moved to General Electric, embarking on a decade-plus journey that would shape much of her leadership foundation. Working across multiple geographies—including the U.S., Europe, and Brazil—she took on roles of increasing responsibility, navigating complex markets and helping steer financial transformations within GE’s healthcare and energy divisions. Her work included managing large-scale financial processes, improving operational efficiencies, leading cross-border teams, and supporting major strategic initiatives.
Her transition to Bertelsmann in 2012 marked a major step into European corporate leadership. As Group CFO, she managed financial planning, investment strategies, and capital allocation for a company with operations spanning continents and business sectors. Her contributions helped support Bertelsmann’s digital growth and expansion in education and media services.
When Dr. Hartmann joined ENGIE in 2015, she entered the energy sector at a time of significant global transition. As Group CFO and later Deputy CEO—and at one point interim Co-CEO—she was deeply involved in the company’s transformation strategy, helping reshape its business model around sustainability and renewable energy. She also oversaw ENGIE’s operations in North America and the UK & Ireland, giving her an additional layer of regional leadership experience.
Beyond her executive career, Dr. Hartmann has built a reputation as a seasoned Non-Executive Director, serving on the boards of several major global companies. She sat on the Board of Unilever from 2015 to 2024, contributing to governance and strategic oversight at one of the world’s largest consumer goods companies. In 2023, she joined the Board of Marsh McLennan, a leading global professional services firm specializing in risk, strategy, and people. In 2025, she expanded her involvement in the renewable energy sector by joining the Board of Ørsted, the world’s largest offshore wind developer. She has also been a Non-Executive Director at Suez, serving from 2015 to 2020 and rejoining the board in 2023 after the company’s privatization. Earlier in her career she held board positions at RTL Group, Electrabel, International Power, Penguin Random House, and Gruner & Jahr, reinforcing her broad expertise across media, utilities, publishing, and energy.
Outside the boardroom and executive suite, Dr. Hartmann leads an active and multifaceted personal life. She is an experienced mountaineer who has participated in high-altitude expeditions, demonstrating a passion for challenge, endurance, and exploration—traits often mirrored in her professional pursuits. She is also a skilled skier who enjoys time in alpine environments. Beyond sports, she has a deep appreciation for the arts, particularly painting, and actively supports artists and creative initiatives.
As Bayer continues to navigate complex global challenges—from market volatility and supply-chain transformation to the ongoing evolution of the pharmaceutical, agricultural, and consumer health industries—the arrival of Dr. Hartmann marks a pivotal moment. Her broad background in energy, media, finance, and global operations, combined with her extensive experience in corporate restructuring and sustainability, is expected to play a central role in shaping Bayer’s next chapter.
With a strong foundation laid by Wolfgang Nickl and a fresh strategic perspective coming from Dr. Hartmann, the company is positioning itself for a new phase of financial discipline, organizational agility, and long-term value creation.
Source Link:https://www.bayer.com/
