International. The Supervisory Board of Bayer MaterialScience AG (in the future: Covestro) has appointed the members of the future Board of Directors of Covestro to become effective as of September 1, 2015.
Patrick Thomas (57) has been confirmed as Chairman of the Board of Directors of Covestro. He has been CEO of Bayer MaterialScience since 2007. Frank H. Lutz (46), who joined Bayer MaterialScience in October 2014, will remain Covestro's Chief Financial Officer. In addition, he will assume the role of chief working officer of Michael Bernhardt (48), who will leave the Board of Directors to head and extend Human Resources, Covestro's function.
The newly appointed to the Board of Directors of Covestro are Dr. Klaus Schäfer (52) and Dr. Markus Steilemann (45). Schäfer will hold responsibility for the Board for Industrial Operations (Chief Industrial Operations Officer) covering production and technology. Steilemann will initially be the Board member responsible for Innovation and, on 31 December 2015, will also retain his role as Head of the Polycarbonates Business Unit.
As of September 1, 2015, Bayer MaterialScience will be known as Covestro. Bayer intends to float this business on the stock market by mid-2016 at the latest. Plans for Bayer MaterialScience's modifications were unveiled in September 2014.
