Covestro AG (Leverkusen, Germany; www.covestro.com) CEO Patrick Thomas has confirmed to the company’s Supervisory Board that he will complete his contract as expected on September 30, 2018. Per the Supervisory Board’s succession decision, Patrick Thomas shall be followed as CEO by Dr. Markus Steilemann, currently Chief Commercial Officer and longterm colleague at the Board of Management since 2015.
Steilemann has enjoyed a long and international career at Bayer, joining the company in 1999 and Bayer MaterialScience in 2004, providing him with an extensive and detailed knowledge of the business. From 2008 onwards, he held various management positions in the Polycarbonates segment in Asia including Head of Global Industrial Marketing. Between 2013 and 2015, Markus Steilemann headed the entire Polycarbonates segment before being appointed to the Covestro Board of Management, where he was most recently responsible for innovation and the entire Polyurethanes segment.
The election of Dr. Steilemann as the successor of Patrick Thomas was unanimous.
Following the announcement, Markus Steilemann said: “I would like to thank the Supervisory Board for the confidence they have placed in me. Covestro is a great company characterized by an innovative spirit, high performance and the enthusiasm of its people. I am looking forward to continuing this successful path by further pushing boundaries together with this great team.”