ÃÜÌÒAV extends contract with CFO Dr. Thomas Toepfer earlier than scheduled until 2026
Continuity on the Board of Management assured
The Supervisory Board of ÃÜÌÒAV has early extended the contract of Board of Management member Dr. Thomas Toepfer by five years from April 1, 2021 to March 31, 2026. Dr. Toepfer has been a member of the Management Board of ÃÜÌÒAV since April 1, 2018. As the company’s Chief Financial Officer (CFO), he oversees accounting, controlling and finance. He is also responsible for investor relations, information technology, portfolio development, tax and legal affairs as well as intellectual property and compliance. In January 2019, he took on the additional position of labor director at ÃÜÌÒAV. By extending Dr. Toepfer’s contract ahead of schedule, the company took a major step to ensure continuity in economically challenging times.
“We are pleased to continue our successful cooperation with Dr. Thomas Toepfer,” said Dr. Richard Pott, Chairman of the Supervisory Board of ÃÜÌÒAV.“ As an experienced CFO, he justifiably enjoys a high level of trust on capital markets and among employees, our business partners, the Board of Management and the Supervisory Board.”
Following the extension of his contract, Dr. Thomas Toepfer said: “I am looking forward to successfully and sustainably shaping the future of ÃÜÌÒAV along with the Board of Management team and our employees. At the same time, I would like to thank our Supervisory Board for the trust they have placed in me.”
Dr. Thomas Toepfer is part of the four-member Board of Management at ÃÜÌÒAV with Chief Executive Officer (CEO) Dr. Markus Steilemann, Chief Commercial Officer (CCO) Sucheta Govil and Chief Technology Officer (CTO) Dr. Klaus Schäfer.
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.