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Covestro: Dr Markus Steilemann will not extend his contract

The term of office of Covestro’s CEO runs until 31 May 2028.

Covestro
Dr Markus Steilemann will not extend his contract with Covestro.
Dr Markus Steilemann will not extend his contract with Covestro. Source: Covestro

Dr Markus Steilemann, Chief Executive Officer of Covestro AG, has informed the Chairman of the Supervisory Board of the Company that he will not be available for a further term of office upon the expiry of his current term, which runs until May 31, 2028.

According to a statement, the Supervisory Board of the company will initiate an orderly succession process for the position of CEO in due course. Dr Markus Steilemann will ensure a smooth transition of his responsibilities to his successor.