Markus Steilemann will be the CEO of Covestro for other five years.
Covestro has recently announced that the company and its CEO Markus Steilemann had reached an agreement to extend his contract until 2028.
The Supervisory Board has renewed the contract of Steilemann, which was expected to expire on May 2023, for a further five years. Serving as chief executive officer, he is responsible for the central functions of the company: Strategy, Sustainability & Public Affairs, Group Innovation, Corporate Audit, Human Resources and Communications.
“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. 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,” has commented Richard Pott, the chairman of the Supervisory Board at Covestro AG.
“I would like to thank the Supervisory Board for the trust it has placed in me. We have restructured Covestro and, together with my colleagues, I look forward to leading the company to a successful and sustainable future,” has added Steilemann.
Dr. Markus Steilemann studied chemistry and business administration at RWTH Aachen University and ETH Zurich and has held various management positions at Bayer Material Science (Covestro's predecessor company). He was appointed as a member of the Board of Management of Covestro in September 2015 and became its CEO in June 2018.