Captain currency

Bayer Group’s Christian Held is passionate about managing his company’s currency risk. The results speak for themselves. By Rachel Wolcott

Bayer Group has spent the past two years making concrete changes to how it manages currency and energy risk. These projects have already yielded positive results, as energy costs have ballooned and the US dollar declined sharply versus the euro – forcing many corporates into readjusting their forex hedging strategies on the fly (Risk March 2004).

Two years ago, Bayer – a pharmaceuticals and