Bayer unveils new management team / Patrick Thomas will continue to lead the company
The management team announced by Bayer (Leverkusen / Germany; for its engineering plastics spin-off Covestro (Leverkusen / Germany; shows continuity. The new company will encompass the engineering plastics business of the current Bayer MaterialScience (BMS), which will adopt its new name from 1 September 2015 – see of 02.06.2015. Patrick Thomas, current chief executive of BMS, will continue to lead the company, and Frank H. Lutz will continue in the position of chief financial officer.

The 57-year-old Thomas, a native of Portsmouth / UK, formerly held executive positions at the now defunct British chemical producer ICI and was president of the Polyurethanes division of US chemical producer Huntsman. He has led BMS since 2007. Alongside his BMS responsibilities, Thomas is president of the plastics producers association PlasticsEurope (Brussels / Belgium;, among other organisations.

Lutz, born in Stuttgart / Germany, joined BMS in 2014 as CFO. In addition to his role as finance chief and his regional administrative responsibilities, the 52-year-old executive will take over the function of labor director from Michael Bernhardt, who will leave the managing board to head an expanded Human Resources function for Covestro.

Other members of the Covestro managing board will be Klaus Schäfer (52), as chief industrial operations officer, and Markus Steilemann (45). On the BMS executive committee since the beginning of 2015, Schäfer’s past positions include CEO of the Bayer-Lanxess site management firm Currenta. Steilemann initially will have responsibility for innovation at Covestro, while remaining head of the Polycarbonates business unit. From the beginning of 2016, he will also assume board responsibility for the Polyurethanes business unit. Joachim Wolff, currently responsible for Polyurethanes, will retire at the end of 2015. A new head of Polycarbonates will be announced later.

Daniel Meyer, presently head of Coatings, Adhesives and Specialties at BMS, will remain responsible for this business unit's operations. Bayer aims to seek a stock market listing for the spun-off polymers business from mid-2016.
17.08.2015 [231972-0]
Published on 17.08.2015
Covestro: Neues Vorstandsteam stehtGerman version of this article...

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