LEVERKUSEN, Germany - The Supervisory Board of Covestro AG has extended the contract of Board of Management member Dr. Klaus Schäfer by five years until the end of 2022. Schäfer has been a member of the Board of Management of Covestro AG since the company went public in 2015. As Chief Technology Officer (CTO), he is responsible for production and technology as well as all chemical production sites of the company. Since mid-2017, he has also acted as Labor Director.

Schäfer is part of the three-member management team of Covestro with Chief Executive Officer Patrick Thomas and Dr. Markus Steilemann, Chief Commercial Officer and future CEO. From April 1, 2018, onwards, Dr. Thomas Toepfer will complement the Board of Management as Chief Financial Officer.