CEO Patrick Thomas will assume the role of interim CFO following the
resignation of Frank H. Lutz. Patrick Thomas has an excellent reputation within
the capital markets based on his long-standing financial and industry
expertise, particularly since Covestro's successful IPO under his leadership in
2015.
Dr. Richard Pott, Chairman of the Supervisory Board of Covestro, said: "We
regret Frank Lutz' decision but of course we respect this step and thank him
for his contribution to the succesfull development of the company. Covestro is
in an excellent position to pursue its strategy of long-term profitable growth,
based on operational strength and strong financial results. The search process
for a successor is on the way."
Patrick Thomas added: "We have a great team with an innovative spirit and true
enthusiasm. Together we will continue to follow our successful path to make the
world a brighter place."
The succession in the position as Labour Director at Covestro will be announced
in due course.
About Covestro:
With 2016 sales of EUR 11.9 billion, Covestro is among the world's largest
polymer companies. Business activities are focused on the manufacture of
high-tech polymer materials and the development of innovative solutions for
products used in many areas of daily life. The main segments served are the
automotive, construction, wood processing and furniture, and electrical and
electronics industries. Other sectors include sports and leisure, cosmetics,
health and the chemical industry itself. Covestro, formerly Bayer
MaterialScience, has 30 production sites worldwide and employs approximately
15,600 people (calculated as full-time equivalents) at the end of 2016.
Find more information at
www.covestro.com.
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