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Dr. Klaus Schäfer received another five years. His contract was set to expire in August.
January 11, 2018
By: Anthony Locicero
Copy Editor, New York Post
The Supervisory Board of Covestro AG on Jan. 1, 2018 extended Board of Management member Dr. Klaus Schäfer’s contract through the end of 2022. Schäfer has been a member of the Board of Management of Covestro AG since the company went public in 2015. As Chief Technology Officer (CTO), he is responsible for production and technology as well as all chemical production sites of the company. Since mid-2017, he also acts as labor director. With the early renewal of the contract, the company underlines its commitment to continuity just like it did with the appointment of the Board of Management member Dr. Markus Steilemann as successor of CEO Patrick Thomas. “Schäfer made significant contributions to the success story of Covestro as an independent company. As a proven industry expert with long-term leadership experience in the company, he ensures that Covestro is able to convince the market with state-of-the-art production facilities and competitive technology,” said Dr. Richard Pott, chairman of the Supervisory Board of Covestro AG. Schäfer is part of the three-member management team of Covestro with CEO Patrick Thomas and Dr. Steilemann, chief commercial officer (CCO). From April 1, 2018 onwards, Dr. Thomas Toepfer will complement the Board of Management as CFO.
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