The Supervisory Board of Covestro unanimously appointed Dr. Thorsten Dreier as Covestro's new Chief Technology Officer. The 49-year-old will take over on July 1, 2023, from Dr. Klaus Schäfer, who most recently extended his expiring contract by six months to ensure personnel stability for Covestro during a challenging period in the market as a result of the ongoing energy crisis.

In his role as Chief Technology Officer, Dreier will assume responsibility for the corporate functions Process Technology, Engineering, Group Health, Safety & Environment and Group Procurement. In the coming months, he will work with Dr. Klaus Schäfer, to prepare for the smooth takeover of his duties and familiarize himself with all the tasks of his future area of responsibility.

"Dr. Thorsten Dreier has demonstrated his technological expertise, customer focus, market orientation and management qualities in our company over the last twenty years, and with great success. He has played a decisive role in shaping Covestro's development," said Dr. Richard Pott, Chairman of Covestro's Supervisory Board.

"He is therefore the ideal successor as Chief Technology Officer and will continue to successfully drive Covestro's transformation towards a circular economy and to achieving climate neutrality." 

"I am grateful for the trust placed in me. I am looking very much forward to working with Covestro employees and the other members of the Board of Management, give new impetus to the transformation of our company and to fulfill our aspired position as a pioneer in the chemical industry in decisively driving forward the circular economy," said Dreier.