Klaus Fröhlich, Chief Financial Officer of Covestro

Klaus Fröhlich has around 30 years of international experience in corporate finance, capital markets, mergers & acquisitions, and transformation. He has been a member of the Board of Management of Covestro AG as Chief Financial Officer (CFO) since October 2026. In this role, he is responsible for Accounting, Controlling, Taxes, Finance & Insurance, Portfolio Development, Investor Relations, IT & Digitalization, as well as Law, Intellectual Property & Compliance. He is also responsible for country-specific matters in the United States and China.

Fröhlich combines many years of investment banking experience with extensive operational finance and leadership expertise. He spent more than 16 years at Morgan Stanley in London, Dubai and Frankfurt, most recently as Managing Director and Head of Capital Markets Germany & Austria. He subsequently served for three years as Chief Financial Officer of the Saudi Binladin Group, where he was responsible for a comprehensive financial and organizational restructuring.

From 2020, Fröhlich served as Group Chief Investment Officer of ADNOC, where he was responsible for corporate transactions, M&A, structured financing and investment governance. From January 2025 to January 2026, he additionally served as Chief Investment Officer of XRG and was a member of its Management Committee. In this role, he supported the establishment of ADNOC’s international investment company.

With his extensive financial expertise, international experience and focus on transformation and value creation, Fröhlich brings a broad perspective to Covestro’s financial and strategic management. His many years of experience across corporates, banking and investment, as well as on various international boards, provide a strong foundation for his role as Chief Financial Officer.

• Banking apprenticeship with a qualification from the Hamburg Chamber of Commerce
• Bachelor of Science in Accounting and Finance from the London School of Economics and Political Science
• Diploma in Company Direction from the Institute of Directors in London

• 1992–1994: Banking apprenticeship at Deutsche Bank in Hamburg
• 1997–2000: Various positions at BNP Paribas in London, as well as an interim role as a consultant for the German Agency for Technical Cooperation (GTZ) in Bolivia
• 2000–2016: Morgan Stanley in London, Dubai and Frankfurt:
• Various leadership positions in investment banking and capital markets
• Most recently Managing Director and Head of Capital Markets Germany & Austria

• 2016–2019: Chief Financial Officer (CFO) of the Saudi Binladin Group in Jeddah
• Since 2019: Founder and Managing Director of KF Advisory
• 2020–2026: Group Chief Investment Officer of ADNOC
• 2025: Additionally Chief Investment Officer of XRG and member of the Management Committee
• Since October 1, 2026: Chief Financial Officer (CFO) of Covestro AG

• Since March 2026: Non-Executive Director of Borouge International AG
• Since March 2025: Non-Executive Director and Chairman of the Audit Committee of Borouge plc
• Since April 2022: Non-Executive Director and Chairman of the Audit Committee of Trois Frères Distilleries
• August 2023 to September 2026: Member of the Board of Directors of Abu Dhabi Offshore Power Infrastructure Limited LLC
• August 2020 to September 2026: Member of the Board of Directors of ADNOC Oil Pipelines Assets LLC
• August 2020 to September 2026: Member of the Board of Directors of ADNOC Gas Pipelines Assets LLC
• Since May 2019: Founder and Managing Director of KF Advisory DMCC LLC