Covestro CFO to leave the company at the end of his term

Christian Baier, Chief Financial Officer of Covestro, has informed the Chairman of the Supervisory Board that he will not be renewing his contract and will leave the company upon expiry of his term in September 2026 at his own request. By sharing this information well in advance, Baier aims to enable an orderly search for his successor. Richard Pott, Chairman of the Supervisory Board, has taken note of this decision with regret and will initiate the search for a successor in due course.

Until his departure, Christian Baier will continue to perform his duties as Chief Financial Officer in full and with the same high level of commitment. He has been a member of the Board of Management since October 2023 and is responsible for Accounting, Controlling, and Finance, and other areas.

“We thank Christian Baier for his outstanding commitment over the past years. He played a key role in guiding Covestro through an important phase in its history, securing the strategic partnership with XRG and initiating the company’s transformation. We respect his decision and are grateful for the early notice, which allows us to begin an orderly succession process. I am pleased that he will continue to fully support the ongoing transformation in the year ahead,” Richard Pott, Chairman of the Supervisory Board, said.

“I would like to express my sincere gratitude to Christian Baier for his dedicated work and the excellent cooperation. He joined Covestro during a period of change and has been instrumental in advancing our ‘Sustainable Future’ strategy. Not least, he played an important role in the negotiations and conclusion of the strategic partnership with XRG. Together with XRG, Covestro is now excellently positioned for a successful future,” Markus Steilemann, CEO of Covestro, said.

“I am grateful for what we have achieved together at Covestro in recent years. With the strategic partnership with XRG, the capital increase, and the implementation phase of the company’s transformation, Covestro is well positioned for long-term and sustainable growth,” Christian Baier concluded.