The Supervisory Board of Covestro has agreed on an amicable retirement of Patrick Thomas' tenure as Chief Executive Officer (CEO) effective May 31, 2018, at today's meeting. Patrick Thomas contract as CEO would have originally ended on September 30, 2018. Already in May 2017, Patrick Thomas had informed the Supervisory Board that he would not be available for a further term beyond 2018. Subsequently, the Supervisory Board appointed Dr. Markus Steilemann as his successor as CEO of Covestro thus ensuring continuity and a smooth transition.

Dr. Richard Pott, Chairman of the Supervisory Board, said: "We have deep respect for Patrick Thomas' excellent work at Covestro. He has significantly contributed to Covestro's remarkable success story. Ever since Covestro became independent in 2015, the company achieved record results continuing its profitable growth path until today. Not only the financial metrics are notable: Under his leadership, Covestro developed an independent corporate culture and became a forerunner in innovation and sustainabilty in the chemical industry and a highly attractive employer. I would like to express my sincere gratitude for Patrick Thomas on behalf of the Supervisory Board and all Covestro employees."

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