GBAF Logo
Finance

Covestro CEO to step down at end of term in 2028

Published by Global Banking & Finance Review

Posted on February 23, 2026

1 min read

· Last updated: April 2, 2026

Add as preferred source on Google
Covestro CEO to step down at end of term in 2028
corporate governance
Global Banking & Finance Awards 2026 — Call for Entries

Feb 23 (Reuters) - German chemicals maker Covestro's chief executive officer Markus Steilemann will step down from the role at the end of his term on May 31, 2028, the company said on Monday.

Covestro CEO Markus Steilemann to Exit Role When Term Ends in 2028

CEO Transition and Succession Plans

Feb 23 (Reuters) - German chemicals maker Covestro's chief executive officer Markus Steilemann will step down from the role at the end of his term on May 31, 2028, the company said on Monday.

Successor Search by Supervisory Board

Departure Timing: May 31, 2028

Covestro's supervisory board will start the process to appoint a successor in due course, it added.

(Reporting by Tristan Veyet in Gdansk, editing by Linda Pasquini)

Key Takeaways

  • Covestro CEO Markus Steilemann will step down at the end of his term on May 31, 2028.
  • The supervisory board will launch a process to select a successor.
  • The long runway enables an orderly transition with limited near‑term disruption.
  • Investors may watch for potential strategy shifts and market reaction during the succession.
  • The update was announced Monday, Feb. 23, 2026.

References

Frequently Asked Questions

What is the main topic?
Covestro announced that CEO Markus Steilemann will step down at the end of his term on May 31, 2028, and that the supervisory board will begin a formal search for his successor.
When will Markus Steilemann step down?
He plans to leave the CEO role at the end of his current term on May 31, 2028.
Who will handle the succession process?
Covestro’s supervisory board will initiate and oversee the process to appoint a successor in due course.

Tags

Related Articles

Image for Trump says he speaks with Putin and Zelenskiy -Fox News

Trump says he speaks with Putin and Zelenskiy -Fox News

Image for Trump tells Fox News Iran can call US if it wants to negotiate

Trump tells Fox News Iran can call US if it wants to negotiate

Image for Australia's Wong to visit Japan, China, South Korea to discuss energy security

Australia's Wong to visit Japan, China, South Korea to discuss energy security

Image for Hungary's Magyar to meet EU's von der ​Leyen for talks on EU funds this week

Hungary's Magyar to meet EU's von der ​Leyen for talks on EU funds this week

Image for Switzerland angers Italy by claiming costs of treating Crans-Montana fire victims

Switzerland angers Italy by claiming costs of treating Crans-Montana fire victims

Image for Russian defence minister visits North Korea

Russian defence minister visits North Korea

More from Finance

Explore more articles in the Finance category

Image for Fertiliser plant in Russia's Vologda region damaged in Ukrainian drone attack, governor says
Fertiliser plant in Russia's Vologda region damaged in Ukrainian drone attack, governor says
Image for Close Brothers will not take legal action against Britain's car finance redress scheme, Sky News reports
Close Brothers will not take legal action against Britain's car finance redress scheme, Sky News reports
Image for Germany's far-right AfD rises to record 28%, INSA poll shows
Germany's far-right AfD rises to record 28%, INSA poll shows
Image for German government suspects Russia of Signal attack targeting politicians, sources say
German government suspects Russia of Signal attack targeting politicians, sources say
Image for Romania finds parts of second drone after overnight Russian attack on Ukraine
Romania finds parts of second drone after overnight Russian attack on Ukraine
Image for China condemns EU's inclusion of Chinese entities in sanctions package against Russia
China condemns EU's inclusion of Chinese entities in sanctions package against Russia
Image for Russian parliament speaker in North Korea to mark Pyongyang's troop deployment in Ukraine war
Russian parliament speaker in North Korea to mark Pyongyang's troop deployment in Ukraine war
Image for Macron reaffirms efforts to reopen Strait of Hormuz, as TotalEnergies warns of energy shortages
Macron reaffirms efforts to reopen Strait of Hormuz, as TotalEnergies warns of energy shortages
Image for France's Macron says EU mutual assistance clause is unambiguous
France's Macron says EU mutual assistance clause is unambiguous
Image for US to let Venezuela pay Maduro's lawyer in drug trafficking case
US to let Venezuela pay Maduro's lawyer in drug trafficking case
Image for Italy votes down equal parental leave while fathers redefine their role online
Italy votes down equal parental leave while fathers redefine their role online
Image for German auto industry faces even tougher competition as China economy slows
German auto industry faces even tougher competition as China economy slows
View All Finance Posts