ÃÜÌÒAV appoints Christian Baier as new CFO, Dr. Thorsten Dreier to become Labor Director
ÃÜÌÒAV appoints new CFO and Labor Director
The Supervisory Board of ÃÜÌÒAV has unanimously appointed Christian Baier as its new Chief Financial Officer (CFO). He will take over from Dr. Thomas Toepfer on October 1, 2023. Dr. Toepfer will leave the company as of August 31, 2023, and ÃÜÌÒAV¡¯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 Labor Director in addition to his duties as Chief Technology Officer from September 1, 2023.
¡°Christian Baier is an accomplished top manager with a 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 ÃÜÌÒAV¡¯s transformation to the circular economy and in the implementation of our Sustainable Future strategy,¡± says Dr. Richard Pott, Chairman of the Supervisory Board of ÃÜÌÒAV. ¡°We are also pleased that Dr. Thorsten Dreier, with his long-standing knowledge of the company, will be shaping the future of ÃÜÌÒAV and its employees in his additional role as the new Labor Director.¡±
¡°I am very much looking forward to driving ÃÜÌÒAV¡¯s transformation and creating sustainable growth together with all ÃÜÌÒAV employees and the Board of Management,¡± says Christian 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.
About ÃÜÌÒAV:
ÃÜÌÒAV is one of the world¡¯s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. ÃÜÌÒAV supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from ÃÜÌÒAV are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, ÃÜÌÒAV aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group¡¯s Scope 3 emissions are also set to be climate neutral by 2050. ÃÜÌÒAV generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by ÃÜÌÒAV. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in ÃÜÌÒAV¡¯s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.