The supervisory board of Covestro AG has early extended the contract of board of management member Thomas Toepfer, Ph.D., by five years (from April 1, 2021, to March 31, 2026). He has been a member of Covestro’s management board of Covestro since April 1, 2018.

As the company’s chief financial officer (CFO), Toepfer oversees accounting, controlling, and finance. He is also responsible for investor relations, information technology, portfolio development, and tax and legal affairs, as well as intellectual property and compliance. In January 2019, he took on the additional position of labor director at Covestro. By extending Toepfer’s contract ahead of schedule, Covestro reports that it took a major step to ensure continuity in economically challenging times.

“We are pleased to continue our successful cooperation with Dr. Thomas Toepfer,” said Richard Pott, Ph.D., chairman of the supervisory board. “As an experienced CFO, he justifiably enjoys a high level of trust on capital markets and among employees, our business partners, the Board of Management and the Supervisory Board.”

“I am looking forward to successfully and sustainably shaping the future of Covestro along with the Board of Management team and our employees,” said Toepfer. “At the same time, I would like to thank our Supervisory Board for the trust they have placed in me.”

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