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Covestro Names New CFO

Monday, December 4, 2017

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Specialty chemicals firm Covestro (Leverkusen, Germany) announced last week its choice of Thomas Toepfer to fill the position of Chief Financial Officer, effective April 1, 2018.

Thomas Toepfer

Thomas Toepfer will take over as CFO of Covestro effective April 1, 2018.

Toepfer will take on the role in relief of Patrick Thomas, the company’s longtime CEO, who has served as CFO on an interim basis since June. Thomas is set to retire from the company next September, with Markus Steilemann on board to take over the CEO position.


Toepfer comes to Covestro from German heavy-equipment manufacturer Kion Group, where he had served as CFO and Labor Director since 2012. Prior to Kion, he had been CFO at Still Gmbh (now a subsidiary of Kion) and department store chain Karstadt Warenhaus.

Covestro, which reported 2016 sales of 11.9 billion euros (about $13 billion), is among the world’s largest polymer companies. The firm manufactures high-tech polymer materials for the automotive, construction, wood processing and furniture, and electrical and electronics industries. The company has 30 production sites worldwide—its North American headquarters is in Pittsburgh—and employs approximately 15,600 workers.


Tagged categories: Coatings raw materials manufacturers; Covestro; Finance; Personnel

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