Dr. Thomas Toepfer to be new Chief Financial Officer of Covestro
Covestro strengthens its Board of Management
On November 17, 2017, Covestro's Supervisory Board unanimously appointed Dr. Thomas Toepfer (45) as the company's new Chief Financial Officer (CFO). He will take over the position from Patrick Thomas on April 1, 2018. Since June 2017, Patrick Thomas has been interim CFO in addition to his function as CEO.
Dr. Richard Pott, Chairman of the Supervisory Board of Covestro said: "By appointing Dr. Thomas Toepfer, we have been able to secure a highly regarded top executive and expert in the field of finance with many years' experience and a proven track record in the capital market for our company. He will perfectly strenghten our management team and thus shape the future of Covestro."
"I am greatly looking forward to taking part in Covestro's success story and driving it forward together with all Covestro employees and my colleagues on the Board of Management," said Toepfer.
Toepfer was born in Hamburg, Germany, in 1972 and has been a member of the Executive Board (CFO and Labor Director) of KION Group AG since 2012. Before joining KION he served as a member of the Managing Board, Chief Financial Officer and Labor Director of STILL GmbH, Hamburg. Previously to this, Toepfer held the position of CFO at Karstadt Warenhaus GmbH from 2008 until 2011. ? About Covestro: With 2016 sales of EUR 11.9 billion, Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 15,600 people (calculated as full-time equivalents) at the end of 2016.
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. 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 Covestro'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.