The supervisory board of Covestro AG has extended the contract of Board of Management member Klaus Schäfer, Ph.D., by five years until the end of 2022. Schäfer has been a member of the board since the going 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 also acts as labor director.

“We are pleased to continue the successful cooperation with Klaus Schäfer, Ph.D.,” said Richard Pott, Ph.D., chairman of the Supervisory Board. “He made significant contributions to the success story of Covestro as an independent company. As a proven industry expert with long-term leadership experience in the company, he ensures that Covestro is able to convince the market with state-of-the-art production facilities and competitive technology. Furthermore, he is highly regarded and trusted among employees, not only as labor director.”

For more information, visit www.covestro.com.