On December 18, 2025, the Supervisory Board of Covestro elected Dr. Rainer Seele as its new chairman. He succeeded Dr. Richard Pott effective December 20, 2025, who stepped down from the board after many years of successful service. The leadership transition follows the successful completion of the strategic partnership between Covestro and XRG, which closed on December 10, 2025.

Pott has played a pivotal role in shaping Covestro as chairman of the Supervisory Board since the company's founding in 2015. During his more than 10-year tenure, he guided the company through critical development phases — from the separation from Bayer and the successful IPO to the recent strategic realignment with partner XRG.

Pott commented on his time with Covestsro, “It has been an honor to support Covestro on its journey and help shape the development of this exceptional company. I am convinced that the strategic partnership with XRG positions Covestro excellently for the future. I also wish my successor Dr. Rainer Seele all the best in his endeavors in guiding the company into its next phase of development.”

Seele is a senior leader with deep industry expertise and global experience across the international energy and chemicals sector. Since 2025, he has led XRG’s global chemicals business as president and played a central role in the development of the strategic partnership with Covestro. Previously, he served as CEO of OMV AG from 2015 to 2021 and held senior leadership roles at companies including Wintershall, where he helped shape their long-term direction. Seele holds a PhD in chemistry.  

Seele commented on his new role, “I am very much looking forward to my role as chairman of the Supervisory Board of Covestro. The company combines outstanding technological expertise with a highly skilled workforce, and a clear strategic focus on sustainability and the circular economy. Together with the Management Board under the leadership of Dr. Markus Steilemann and as part of the XRG family, we will continue to advance Covestro's transformation, drive long-term value creation, and unlock its full potential. I would also like to thank Dr. Richard Pott for his outstanding contribution and for leading a successful transition.”

Additional information about Covestro is available at www.covestro.com.