Covestro extends contract with CTO Dr. Thorsten Dreier ahead of schedule until 2031
Continuity on the Board of Management
Dr. Thorsten Dreier will remain Chief Technology Officer of Covestro for a further five years. The Supervisory Board has extended his contract, which runs until June 2026, ahead of schedule from July 1, 2026 to June 30, 2031.
Dreier is Chief Technology Officer and Member of the Board of Management of Covestro since July 2023 and Labor Director since September 2023.
“Thorsten Dreier has significantly advanced Covestro's transition to climate-neutral production over the past two years, making an important contribution to Covestro's vision of a circular economy,” said Dr. Richard Pott, Chair of the Supervisory Board of Covestro AG. “We are convinced that Mr. Dreier will successfully continue the transformation of Covestro and we look forward to our continued collaboration."
"I am grateful for the trust placed in me. I am looking very much forward to continuing to drive the transformation of our company together with the Covestro employees and the Board of Management," said Dreier. “As Labor Director, it is very important to me to continue the trusting and constructive collaboration with the employees and the employee representatives that I have been able to establish in the past years."
In his role as Chief Technology Officer, Dreier assumes responsibility for the corporate functions Engineering, Process Technology, Group Health, Safety, Environment & Reliability and Group Procurement. In addition, the reporting segment Performance Materials is under his responsibility.
Other members of Covestro's Board of Management are Dr. Markus Steilemann as Chief Executive Officer, Christian Baier as Chief Financial Officer, Sucheta Govil as Chief Commercial Officer and Monique Buch, who will succeed Sucheta Govil as Chief Commercial Officer from August 2025.
About Covestro:
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.