The supervisory board of Covestro has reportedly agreed on an amicable retirement of Patrick Thomas’ tenure as CEO, effective May 31. Thomas previously announced plans to retire at the end of his contract as CEO on  September 30. Markus Steilemann, Ph.D., has been appointed as his successor as CEO.
 
“We have deep respect for Patrick Thomas’ excellent work at Covestro,” said Richard Pott, Ph.D.,  chairman of the supervisory board. “He has significantly contributed to Covestro’s remarkable success story. Ever since Covestro became independent in 2015, the company achieved record results continuing its profitable growth path until today. Not only the financial metrics are notable: Under his leadership, Covestro developed an independent corporate culture and became a forerunner in innovation and sustainabilty in the chemical industry and a highly attractive employer. I would like to express my sincere gratitude for Patrick Thomas on behalf of the supervisory board and all Covestro employees.”

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

For more information, visit www.covestro.com.