Covestro Announces CEO Succession Plan
LEVERKUSEN, Germany - CEO Patrick Thomas has confirmed to the Covestro Supervisory Board that he will complete his contract as expected on September 30, 2018. The Supervisory Board announced that Dr. Markus Steilemann, currently Chief Commercial Officer, will replace Thomas.
Steilemann is a qualified and experienced manager who enjoyed a long career at Bayer, joining the company in 1999 and Bayer MaterialScience in 2004, providing him with an extensive and detailed knowledge of the business. From 2008 onward, he held various management positions in the Polycarbonates segment in Asia including Head of Global Industrial Marketing. Between 2013 and 2015, Steilemann headed the entire Polycarbonates segment before being appointed to the Covestro Board of Management, where he was most recently responsible for innovation and the entire Polyurethanes segment. The election of Steilemann as the successor of Thomas was unanimous.
Following the announcement, Steilemann said, "I would like to thank the Supervisory Board for the confidence they have placed in me. Covestro is a great company characterized by an innovative spirit, high performance and the enthusiasm of its people. I am looking forward to continuing this successful path by further pushing boundaries together with this great team.”