US' Covestro appoints new CFO & labour director

The supervisory board of Covestro has unanimously appointed Christian Baier as its new chief financial officer (CFO). Baier will take over from Dr Thomas Toepfer on October 1, 2023. Toepfer will leave the company as of August 31, 2023, and Covestro’s chief executive officer Dr Markus Steilemann will act as CFO on an interim basis during September. Dr Thorsten Dreier will take over the position of labour director in addition to his duties as chief technology officer from September 1, 2023.

“Baier is an accomplished top manager with longstanding experience in the capital markets. We are delighted that, as a member of the board of management, he will be actively involved in shaping Covestro’s transformation to the circular economy and in the implementation of our Sustainable Future strategy,” said Dr Richard Pott, chairman of the supervisory board of Covestro. “We are also pleased that Dreier, with his long-standing knowledge of the company, will be shaping the future of Covestro and its employees in his additional role as the new labour director.”

“I am very much looking forward to driving Covestro’s transformation and creating sustainable growth together with all Covestro employees and the Board of Management,” said Baier.

Born in Freiburg/Breisgau (Germany), Baier has been a member of the management board (chief financial officer) of METRO AG since 2016; this was preceded by various executive positions at the international wholesaler from 2011. Prior to that, his experience also includes working for Permira, a global investment firm, from 2006 to 2011.