Covestro announced Klaus Fröhlich will become chief financial officer effective Oct. 1, 2026, succeeding Christian Baier, who will leave the company Sept. 30, 2026. Fröhlich will also join Covestro AG’s board of management. 

Fröhlich currently serves as group chief investment officer at ADNOC and has more than 25 years of experience in finance and investment banking. His previous roles include serving as chief financial officer in Saudi Arabia and working at Morgan Stanley, most recently as head of investment banking for the Middle East and North Africa. 

According to the company, Baier informed the supervisory board in December 2025 that he would not extend his contract, allowing for a planned transition process. Covestro said Baier will continue in his role through the end of his term.