17-Aug-2015 - Bayer AG

Covestro Management Board named

From September 1, 2015, Bayer MaterialScience will be known as Covestro

The Supervisory Board of Bayer MaterialScience AG (in future: Covestro) has named the members of the future Covestro Board of Management effective September 1, 2015. Patrick Thomas (57) has been confirmed as Chairman of the Board of Management of Covestro. He has been CEO of Bayer MaterialScience since 2007. Frank H. Lutz (46), who joined Bayer MaterialScience in October 2014, will remain Chief Financial Officer of Covestro. Moreover, he will assume the function of Labor Director from Michael Bernhardt (48), who will leave the Board of Management to head an expanded Human Resources function for Covestro.

Newly appointed to the Covestro Board of Management are Dr. Klaus Schäfer (52) and Dr. Markus Steilemann (45). Schäfer will hold Board responsibility for Industrial Operations (Chief Industrial Operations Officer) covering production and technology. Steilemann will initially be the Board member responsible for Innovation. From January 1, 2016, he will additionally assume Board responsibility for the Polyurethanes Business Unit. Dr. Joachim Wolff, who is currently responsible for the Polyurethanes Business Unit, will retire on December 31, 2015. Daniel Meyer, the present Head of Coatings, Adhesives and Specialties, will remain responsible for this business unit's operations.

Facts, background information, dossiers
  • Covestro
  • Bayer
More about Bayer
  • News

    Bayer: Very good start to the year – strong sales and earnings growth

    The Bayer Group had a very successful start to 2022. “We achieved outstanding sales and earnings growth, with particularly substantial gains for our agriculture business,” said Werner Baumann, Chairman of the Board of Management, on Tuesday as he presented the quarterly statement for the fi ... more

    Bayer to sell its Environmental Science Professional business to Cinven for 2.6 billion U.S. dollars

    Bayer and Cinven have entered into a definitive agreement regarding the sale of Bayer’s Environmental Science Professional business for a purchase price of 2.6 billion U.S. dollars (2.4 billion euros), Bayer announced on Thursday. “This divestment represents a very attractive purchase price ... more

    Bayer: Dynamic growth

    The Bayer Group had a successful year in 2021, both operationally and strategically. “We posted substantial growth, strengthened our innovation pipeline and made progress toward our sustainability targets. All this shows that Bayer is on the right track!” said Werner Baumann, Chairman of th ... more

  • Companies

    Bayer Industriepark Brunsbüttel

    more

    Bayer Corporation

    Bayer Corporation, headquartered in Pittsburgh, is a subsidiary of Bayer AG, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. In North America, Bayer had 2006 net sales of 7.8 billion euros and employed 17,200 at year end. Bayer’s three s ... more

    Bayer S.A./NV.

    Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Our products and services are designed to benefit people and improve their quality of life. At the same time we want to create value through innovation, growth and high earni ... more

More about Bayer MaterialScience
  • News

    Covestro up and running

    Bayer MaterialScience is from now on operating under the Covestro name. The company is now legally and economically independent, but will remain a 100 percent subsidiary of Bayer AG. Bayer wants to float Covestro on the stock market by mid-2016 at the latest in order to concentrate exclusiv ... more

    Bayer MaterialScience: Further milestone in the manufacture of plastics from CO2

    Bayer MaterialScience has taken another major step toward using CO2 for plastic production from 2016. A production line is currently under construction for this purpose at the Dormagen site in Germany. A chemical reactor weighing some 25 metric tons has now been put in place at the heart of ... more

    New company name unveiled: Bayer MaterialScience to be called Covestro

    Bayer has announced that the new name of its MaterialScience business will be Covestro. It will be effective on September 1, 2015. Bayer intends to float Covestro on the stock market by mid-2016 at the latest. The plan for Bayer MaterialScience to become a separate company was announced in ... more

  • Companies

    Bayer MaterialScience LLC

    Bayer MaterialScience LLC is one of the leading producers of polymers and high-performance plastics in North America and is part of the global Bayer MaterialScience business with nearly 19,000 employees at 40 sites around the world and 2005 sales of 10.7 billion euros. Our innovative develo ... more