The supervisory board of Covestro has acceded to the request from CFO and Labor Director Thomas Toepfer, Ph.D., for the early termination of his current contract, which expires on March 31, 2026. Toepfer will leave the company as of August 31, 2023, to pursue a new role as CFO at the European aircraft manufacturer Airbus. Until then, Toepfer will continue his work as CFO and labor director at Covestro. The supervisory board has started its search for a successor and will make an announcement about the opening. 

Toepfer has been a member of Covestro’s board of management since April 2018 and, as chief financial officer, is responsible for accounting, controlling, and finance, among others. He has additionally held the position of labor director since January 2019. 

“We respect Thomas Toepfer’s personal wish to terminate his contract early in order to pursue his professional career outside the group,” said Richard Pott, Ph.D., chairman of the supervisory board of Covestro. “Since he assumed office, he has made a major contribution to Covestro’s successful development. In the past few years, he and his team have continually expanded the company’s financial structure and established the group's finance board department very well at all levels. Thanks also to his commitment, Covestro enjoys a high level of trust by the capital market and today has all the tools to ensure the long-term group strategy is sustainably financed. On behalf of the entire supervisory board, I thank Thomas Toepfer and wish him good luck and every success in his new role.”

“Through his tremendous commitment, Thomas Toepfer has played an important role in developing and implementing our strategy,” said Markus Steilemann, Ph.D., CEO Covestro. “Together with our strong management team, we have successfully driven Covestro’s organizational realignment and in this way created the conditions necessary for Covestro to successfully generate sustainable growth.”

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