Bayer vs Target: Founders, CEOs and History
Bayer was founded in 1863 by Friedrich Bayer, Johann Friedrich Weskott and is led by Bill Anderson. Target was founded in 1902 by George Dayton and is led by Michael Fiddelke.
Company facts
Founders
Bayer
Friedrich Bayer
Bayer was founded in 1863 in Barmen, now part of Wuppertal, Germany, by two men with complementary skills: Friedrich Bayer, a dye merchant, and Johann Friedrich Weskott, a master dyer.
Johann Friedrich Weskott
Johann Friedrich Weskott was a German master dyer who co-founded what became Bayer. In 1863 he and his friend Friedrich Bayer, a dye salesman, formed Friedr. Bayer et comp. in Barmen, now part of Wuppertal, Germany.
Target
George Dayton
George Draper Dayton became a partner in Goodfellow's Dry Goods Company, one of the largest department stores in Minneapolis, in 1902, and became sole owner and president within a year, renaming it the Dayton Dry Goods Company.
CEOs and their tenures
Bayer
- Werner Wenning2002–2010
Chief Executive Officer and Chairman of the Board of Management
Wenning led Bayer from April 2002 to September 30, 2010. He took over months after the worldwide withdrawal of the cholesterol drug Baycol and spent his early years settling the claims that followed.
Source - Marijn Dekkers2010–2016
Chief Executive Officer and Chairman of the Board of Management
Dekkers was CEO from October 1, 2010 to April 30, 2016 and the first Bayer chief executive hired from outside the company. He narrowed Bayer to life sciences: in 2014 Bayer bought the consumer care business of Merck and Co.
Source - Werner Baumann2016–2023
Chief Executive Officer and Chairman of the Board of Management
Baumann became CEO in May 2016 and retired at the end of May 2023 after 35 years at Bayer. His defining decision was the acquisition of Monsanto, completed on June 7, 2018 at USD 128 per share, about USD 63 billion in total.
Source - Bill Anderson2023–present
Chief Executive Officer and Chairman of the Board of Management
Anderson, a chemical engineer who previously ran Roche's pharmaceuticals division and Genentech, joined Bayer's Board of Management on April 1, 2023 and became CEO on June 1, 2023.
Source
Target
- Robert J. Ulrich1994–2008
Chairman and CEO
Under Ulrich Target grew into the second-largest US discount retailer, built its design-partnership model with designers such as Michael Graves, and added the Super Target format. He retired as chief executive in 2008 and was succeeded by Gregg Steinhafel.
Source - Gregg Steinhafel2008–2014
Chairman, President and CEO
Steinhafel resigned in May 2014 after the data breach and the poor results of Target Canada, which the company closed in 2015 after losses. Brian Cornell succeeded him later in 2014.
Source - Brian Cornell2014–2026
Former Chairman and CEO
Cornell's tenure ended amid a stock and sales slump, with revenue declining for three consecutive fiscal years (from $107.412 billion in FY2023 to $104.780 billion in FY2025) even as the omnichannel infrastructure he built began paying off in the following qua…
Source - Michael Fiddelke2026–present
Chief Executive Officer
Fiddelke inherited a company coming off three straight years of revenue decline. His first two quarters as CEO delivered growth: Q1 FY2026 net sales rose 6.7% and Q2 FY2026 net sales rose 5.3% to $26.5 billion, with comparable traffic up 3.6%.
Source
Timeline: Bayer and Target side by side
1863Bayer
Bayer Founded in Barmen, Germany
Friedrich Bayer and Johann Friedrich Weskott entered Friedrich Bayer et. Compagnie into the commercial register in Barmen, Germany, on August 1, 1863, to make synthetic fuchsine and aniline dyes for the textile industry using the new coal-tar chemistry.
1898Bayer
Heroin Marketed as a Cough Suppressant
Bayer began selling diacetylmorphine under the trademark Heroin as a cough suppressant and a supposedly non-addictive substitute for morphine. It stayed in Bayer's range until after World War I, long after its addictiveness was understood.
1899Bayer
Aspirin Registered as a Trademark
The Bayer chemist Felix Hoffmann had synthesized acetylsalicylic acid in a stable, pure form in 1897, and Bayer registered the trademark Aspirin on March 6, 1899. It became the first mass-market synthetic medicine and is still one of the most widely used.
1902Target
Dayton Company is founded
George Dayton becomes a partner in Goodfellow's Dry Goods Company in Minneapolis in 1902, then sole owner in 1903, renaming it Dayton Dry Goods Company -- the business that eventually becomes Target Corporation.
1903Bayer
Veronal Barbiturate Sleep Aid Launched
Bayer licensed diethylbarbituric acid from Emil Fischer and Joseph von Mering and sold it as Veronal, the first barbiturate sleep aid.
1912Bayer
Headquarters Moved to Leverkusen
Under Carl Duisberg, Bayer moved its main chemical plant and head office to Leverkusen on the Rhine, building one of the largest industrial chemical sites in Europe. Leverkusen is still the group headquarters.
1918Bayer
US Assets Confiscated During World War I
Bayer's US assets and trademarks, including the Aspirin trademark, were confiscated by the Alien Property Custodian and sold to Sterling Products. Bayer lost its largest export market and the right to its own name in North America for decades.
1925Bayer
Merger into IG Farben
Bayer merged with BASF, Hoechst, Agfa and other German chemical companies to form IG Farbenindustrie AG, then the largest chemical and pharmaceutical group in the world. IG Farben's role in the Nazi war effort led the Allies to dissolve it after World War II.
1932Bayer
Prontosil Discovered by Gerhard Domagk
Gerhard Domagk, leading a research team in the Bayer laboratories, developed Prontosil, the first sulfonamide antibacterial and the forerunner of modern antibiotics. He was awarded the Nobel Prize in Physiology or Medicine in 1939 for the work.
1951Bayer
Re-established After the IG Farben Dissolution
Bayer was reincorporated as Farbenfabriken Bayer AG in 1951 after the Allied dissolution of IG Farben and rebuilt as an independent chemical and pharmaceutical company during West Germany's post-war recovery.
1962Target
First Target store opens
The first Target discount store opens in Roseville, Minnesota.
1994Bayer
US Bayer Trademark Rights Reclaimed
Bayer bought Sterling Winthrop's over-the-counter drug business from SmithKline Beecham for about USD 1 billion, recovering the US and Canadian rights to the Bayer name and the Bayer Cross confiscated in 1918, plus the Aspirin trademark in Canada.
2000Target
Company becomes Target Corporation
Dayton Hudson changes its name to Target Corporation as the discount chain becomes the center of the company.
2001Bayer
Baycol Withdrawn Worldwide
Bayer voluntarily withdrew its cholesterol drug Baycol, sold as Lipobay outside the United States, in August 2001 after cases of fatal rhabdomyolysis, particularly at higher doses and in combination with gemfibrozil.
2006Bayer
Schering AG Acquired for About EUR 17 Billion
Bayer acquired Schering AG of Berlin for about $19.2 billion (EUR 17 billion) after counter-bidding against a hostile approach from Merck KGaA, adding the Mirena contraceptive franchise, oncology assets and a European pharmaceutical sales force.
2013Target
Target Data Breach
Target discloses a data breach affecting more than 40 million customer payment cards during the holiday shopping season, becoming one of the most-cited cybersecurity failures in US retail history.
2014Bayer
Merck Consumer Care Acquired for USD 14.2 Billion
Bayer closed the purchase of the consumer care business of Merck and Co. on October 1, 2014 for USD 14.2 billion in cash, adding Claritin, Coppertone and Dr. Scholl's and making Bayer one of the largest non-prescription medicine companies in the world.
2014Target
Dermstore Acquired
Target acquires online beauty retailer Dermstore to expand its e-commerce beauty business; it sells the unit to THG for $350 million in 2021.
2015Bayer
Covestro Spin-off
Bayer listed its materials science division as Covestro through an IPO on the Frankfurt Stock Exchange, ending its presence in plastics and polymers and leaving a group focused on pharmaceuticals, consumer health and crop science.
2015Target
Target Exits Canada
Target announced in January 2015 that it would close all of its Canadian stores, ending an expansion that began in 2013.
2017Target
Target acquires Shipt and Grand Junction
Target acquires same-day delivery platform Shipt for about $550 million and transportation-technology startup Grand Junction, accelerating omnichannel fulfillment.
2018Bayer
Monsanto Acquisition Completed for About USD 63 Billion
Bayer completed the acquisition of Monsanto on June 7, 2018, paying USD 128 per share, about USD 63 billion in total, the largest foreign acquisition by a German company.
2020Bayer
USD 10.9 Billion Roundup Settlement
Bayer agreed to pay about USD 10.9 billion to settle roughly 113,000 Roundup claims while continuing to maintain that glyphosate does not cause cancer. The programme did not end the litigation and new claims kept arriving.
2020Target
Stores become fulfillment hubs
Target's store-based fulfillment model becomes central to digital growth during the pandemic period.
2023Bayer
Bill Anderson Becomes CEO
Werner Baumann retired at the end of May 2023 after 35 years at Bayer. Bill Anderson, previously head of Roche's pharmaceuticals division and of Genentech, joined the Board of Management in April and became CEO on June 1, 2023.
2024Bayer
Dynamic Shared Ownership Rolled Out
Bayer began introducing the Dynamic Shared Ownership operating model, replacing layers of middle management with self-directed teams.
2025Bayer
Nubeqa Approved in the US for Metastatic Castration-Sensitive Prostate Cancer
The FDA approved Nubeqa (darolutamide) in June 2025 for metastatic castration-sensitive prostate cancer, a third indication, followed by EU authorization in July 2025.
2025Target
Michael Fiddelke named next CEO
Target announces that Michael Fiddelke will succeed Brian Cornell as CEO effective February 1, 2026, after 22 years rising through the company including as CFO and COO.
2026Bayer
Supreme Court Preemption Ruling and Proposed USD 7.25 Billion Roundup Class Settlement
In February 2026 Monsanto proposed a US nationwide class settlement funded by declining annual payments of up to USD 7.25 billion over as long as 21 years, which received preliminary approval in March 2026.
2026Target
FY2025 revenue is reported
Target reports FY2025 revenue of $104.780B and net income of $3.705B, the third consecutive year of revenue decline.
2026Target
Q1 FY2026 sales rebound
Target reports Q1 FY2026 net sales growth of 6.7% and comparable sales growth of 5.6% under new CEO Michael Fiddelke.
2026Target
Q2 FY2026 growth and raised outlook
Target reports Q2 FY2026 net sales of $26.5B (+5.3%), comparable sales growth of 3.8% and raises full-year guidance to about 5% sales growth.
Acquisitions
Bayer
- Monsanto Company2018$63B
- Merck Consumer Care2014$14.2B
- Schering AG2006$21.2B
- Sterling Winthrop OTC Business1994$1B
Questions about Bayer vs Target
Who is the CEO of Bayer AG and Target Corporation?
Bayer AG is led by Bill Anderson and Target Corporation is led by Michael Fiddelke. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bayer AG founded vs Target Corporation?
Bayer AG was founded in 1863 — 39 years before Target Corporation, which was founded in 1902. Bayer AG's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Target Corporation.
How many employees does Bayer AG have compared to Target Corporation?
Bayer AG employs approximately 88,078 people, while Target Corporation employs approximately 415,000. Target Corporation has the larger workforce at 415,000 employees, compared to Bayer AG's 88,078. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bayer AG and Target Corporation headquartered?
Bayer AG is headquartered in Germany and Target Corporation is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Bayer AG and Target Corporation?
Bayer AG was founded by Friedrich Bayer, Johann Friedrich Weskott. Target Corporation was founded by George Dayton.
Which company has a longer operating history — Bayer AG or Target Corporation?
Bayer AG has been operating for approximately 163 years, making it the more established of the two companies. Target Corporation has been in operation for around 124 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bayer vs Target overview