Markus Steilemann, Ph.D., will remain CEO of Covestro for a further five years. The supervisory board has prematurely extended his contract, which runs until May 2023, to May 31, 2028. Steilemann has been a member of the Covestro board of management since September 2015 and the company’s CEO since June 2018.

“Markus Steilemann has provided Covestro with outstanding leadership as Chief Executive Officer during his tenure to date, setting important strategic direction and driving the Group’s sustainable growth,” said Richard Pott, Ph.D., chairman of the supervisory board. “We look forward to continuing our successful cooperation. By extending his mandate ahead of schedule, we are emphasizing our confidence in Mr. Steilemann to successfully continue the transformation Covestro has begun to become fully circular.”

“I would like to thank the Supervisory Board for the trust it has placed in me,” Steilemann said. “We have restructured Covestro and, together with my colleagues, I look forward to leading the company to a successful and sustainable future.”

In his role as CEO, Steilemann is responsible for the central functions of the company: Strategy, Sustainability & Public Affairs, Group Innovation, Corporate Audit, Human Resources, and Communications. Since 2008, he has held various management positions at Bayer MaterialScience, Covestro’s predecessor company. In September 2015, Steilemann was appointed a member of the Covestro board of management. He studied chemistry and business administration at RWTH Aachen University and ETH Zurich.

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