The four-member Board of Management headed by Patrick Thomas is responsible for steering Covestro’s global business operations and for the company’s organization and alignment. The primary objective is to create sustainable value.In its work, the Board of Management takes account of the interests of stockholders, employees and other stakeholders. It decides on all matters of fundamental and material significance.
Its tasks include defining Covestro’s long-term goals and strategies and the resulting corporate policies. The Board of Management also defines the company’s portfolio, develops and deploys managerial staff, allocates resources and takes decisions on financial steering and reporting.
Meetings of the Board of Management are held regularly. The members of the Board of Management are each assigned certain duties and areas of responsibility. They manage the areas assigned to them on their own responsibility within the framework of the decisions made by the full Board. As the Board of Management comprises only four members, no committees have been established.
The Board of Management performs its tasks according to the law, the Articles of Incorporation, the Board’s rules of procedure and the recommendations of the German Corporate Governance Code. It works with the company’s other governance bodies like the Supervisory Board in a spirit of trust.
Further information about the Board of Management can be found in the Corporate Governance chapter in the Annual Report 2015.