The Supervisory Board of Covestro has agreed on an amicable retirement of Patrick Thomas’ tenure as Chief Executive Officer (CEO) effective 31st May 2018.
Thomas’ contract as CEO was originally due to end in September 2018, when the handover to Dr. Markus Steilemann was scheduled to take place. However, Covestro says by mutual agreement the start date has been brought forward.
Patrick Thomas (left) and Dr. Markus Steilemann (right)
“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,” said Dr. Richard Pott, Chairman of the Supervisory Board.
“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.”
Thomas has held the position of CEO and its predecessor Bayer MaterialScience since 2007, as well as various positions across the chemicals industry and in numerous industry associations such as Cefic (Conseil Européen de l'Industrie Chimique / European Chemical Council), WPC (World Plastics Council) and VCI (Verband der Chemischen Industrie).