By: ICN Bureau
Last updated : December 23, 2025 10:32 am
The change comes shortly after Covestro and XRG closed their strategic partnership on 10 December 2025
Polymer giant Covestro has appointed Rainer Seele as Chairman of its Supervisory Board, marking a leadership transition following the completion of its strategic partnership with XRG. The Supervisory Board elected Seele on 18 December 2025, with the appointment taking effect on 20 December 2025.
He succeeds Richard Pott, who has stepped down after more than a decade of service. The change comes shortly after Covestro and XRG closed their strategic partnership on 10 December 2025, a milestone seen as a key step in the company’s long-term transformation.
Richard Pott has been a defining figure in Covestro’s development since the company’s founding in 2015. As Chairman of the Supervisory Board, he oversaw some of the most significant chapters in the company’s history, including its separation from Bayer, a successful IPO, and the recent strategic realignment with XRG.
Reflecting on his tenure, Pott said: “It has been an honor to support Covestro on its journey and help shape the development of this exceptional company. I am convinced that the strategic partnership with XRG positions Covestro excellently for the future. I also wish my successor Rainer Seele all the best in his endeavours in guiding the company into its next phase of development.”
Rainer Seele brings extensive international leadership experience across the energy and chemicals industries. Since 2025, he has led XRG’s global chemicals business as President and played a central role in shaping the partnership between XRG and Covestro.
His previous roles include serving as CEO of OMV AG from 2015 to 2021, as well as holding senior leadership positions at Wintershall, where he helped define the company’s long-term strategic direction. Seele holds a PhD in Chemistry.
Commenting on his appointment, Seele said: “I am very much looking forward to my role as Chairman of the Supervisory Board of Covestro. The company combines outstanding technological expertise with a highly skilled workforce, and a clear strategic focus on sustainability and the circular economy.
"Together with the Management Board under the leadership of Markus Steilemann and as part of the XRG family, we will continue to advance Covestro's transformation, drive long-term value creation and unlock its full potential. I would also like to thank Richard Pott for his outstanding contribution and for leading a successful transition."