Covestro CEO to step down in 2028

LootboxPhobia · 2026-02-23T18:23:41+00:00

Covestro CEO Dr. Markus Steilemann announced that he will not seek reappointment after his contract expires in 2028, and the supervisory board will initiate a succession process. He will ensure a smooth transition of responsibilities. Covestro is a polymer manufacturer serving multiple industries.

LootboxPhobia

2026-02-23 18:23:41

Abstract generation in progress

Covestro (ETR:1COV) announced on Monday that CEO Dr. Markus Steilemann will not seek to renew his contract beyond May 31, 2028.

Steilemann has informed the Chairman of the Supervisory Board that he will not seek reappointment when his current contract expires. The Supervisory Board will initiate the succession process for the CEO position.

Steilemann will focus on ensuring a smooth transition of his responsibilities to his successor.

Covestro is a manufacturer of polymer materials and components, serving clients in mobility, construction, electrical, and electronics sectors.

The company achieved sales of 14.2 billion euros in fiscal year 2024, and by the end of 2024, it employed approximately 17,500 people across 46 production sites worldwide.

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