Bayer, the German drugs and plastics company, has named Marijn Dekkers, a Dutchman at the head of US-based Thermo Fisher Scientific, to succeed chief executive Werner Wenning in a year’s time.

The appointment marks the first time that an outsider will take charge of the pharmaceuticals-focused group, and suggests it is gearing up for industry consolidation as it puts a mergers and acquisitions expert at its helm.