LEVERKUSEN, Germany — The Supervisory Board of Covestro has agreed on an amicable retirement of Patrick Thomas as Chief Executive Officer (CEO) effective May 31, 2018. Thomas' contract as CEO would have originally ended on Sept. 30, 2018. In May 2017, Thomas informed the Supervisory Board that he would not be available for a further term beyond 2018. The Supervisory Board appointed Dr. Markus Steilemann as Thomas' successor as CEO.

Thomas has been CEO of Covestro and its predecessor, Bayer MaterialScience, since 2007. Prior to that, he held various positions across the chemicals industry.