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.
Bayer: Slow start to the year as expected
The Bayer Group experienced a slow start to 2023 as expected. “Sales were on a par with the exceptionally strong prior-year quarter,” CEO Werner Baumann said on Thursday when presenting the Quarterly Statement for the first quarter. The normalization in the glyphosate business has accelerat ... more
Bayer: Significant growth in sales and earnings
The Bayer Group achieved strong growth last year, posting significantly higher sales and earnings. “2022 was a very successful year for Bayer despite the challenging environment. We were able to deliver, even during these difficult times, and met the upgraded financial targets we set in Aug ... more
Bill Anderson to become CEO of Bayer AG
The Supervisory Board of Bayer AG has appointed Bill Anderson to become CEO of Bayer, effective June 1, 2023. He will join Bayer as a member of the Board of Management on April 1, 2023. Bill Anderson was elected unanimously after a thorough selection process which began mid last year. Werne ... more
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 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
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
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
