Covestro extends contract with CEO Dr. Markus Steilemann ahead of schedule until 2028

13-Jun-2022 - Germany

Dr. Markus Steilemann will remain Chief Executive Officer of Covestro for a further five years. The Supervisory Board has extended his contract, which runs until May 2023, until May 31, 2028. Steilemann has been a member of the Covestro Board of Management since September 2015 and its Chief Executive Officer since June 2018.

Covestro AG

Dr. Markus Steilemann, Chief Executive Officer of Covestro.

"Markus Steilemann has provided Covestro with outstanding leadership as Chief Executive Officer during his tenure to date, setting important strategic direction and driving the Group's sustainable growth. We look forward to continuing our successful cooperation," said Dr. Richard Pott, Chairman of the Supervisory Board of Covestro AG. "By extending his mandate ahead of schedule, we are emphasizing our confidence in Mr. Steilemann to successfully continue the transformation Covestro has begun to become fully circular."  

Following his contract extension, Dr. Markus Steilemann responds: "I would like to thank the Supervisory Board for the trust it has placed in me. We have restructured Covestro and, together with my colleagues, I look forward to leading the company to a successful and sustainable future."

In his role as Chief Executive Officer, Steilemann is responsible for the central functions of the company: Strategy, Sustainability & Public Affairs, Group Innovation, Corporate Audit, Human Resources and Communications.

Other members of Covestro's Board of Management are Sucheta Govil as Chief Commercial Officer, Dr. Klaus Schäfer as Chief Technology Officer and Dr. Thomas Toepfer as Chief Financial Officer.

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