Covestro AG extends contract with CEO​

Head of specialty chemicals group in Krefeld
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Covestro AG extends contract with CEO

At Chempark Uerdingen, Covestro AG manufactures raw materials for industry and everyday items. Markus Steilemann remains CEO. The supervisory board of the specialty chemicals group has extended its contract.

Covestro AG employs around 1,100 people at Chempark Uerdingen in Krefeld. Most of them work in production. In a total of nine production facilities, the specialty chemicals group manufactures various raw materials for industry and for everyday items such as smartphones, cars and refrigerators. CEO Markus Steilemann has overall responsibility. A company spokesman announced that the Supervisory Board had prematurely extended the contract with him, which ran until May 2023, until May 31, 2028.

Steilemann has been a member of the Management Board of Covestro since September 2015 and its Chairman since June 2018. “Markus Steilemann has managed Covestro excellently in his tenure to date as CEO, set the important strategic course and promoted the sustainable growth of the group. We look forward to continuing our successful cooperation,” says Richard Pott, Chairman of the Supervisory Board of Covestro AG. “With the early extension of the mandate, we underline our trust in Mr. Steilemann to successfully continue the transformation of Covestro towards a complete orientation towards the circular economy.”

In his function as CEO, Steilemann is responsible for the central functions Strategy, Sustainability & Public Affairs, Group Innovation, Corporate Audit, Human Resources and Communications. Since 2008, Steilemann has held various management positions at Bayer Material Science – the predecessor company of Covestro. He studied chemistry and business administration at the Rheinisch Westfälische Technische Hochschule (RWTH) Aachen and the Swiss Federal Institute of Technology (ETH) Zurich.

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