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The Supervisory Board of Covestro has unanimously decided to appoint Klaus Fröhlich as the new Chief Financial Officer (CFO). The 53-year-old will assume the role from Christian Baier effective October 1, 2026. Christian Baier will leave the company on September 30, 2026. At the same time, Klaus Fröhlich will become a member of the Board of Management of Covestro AG.
Rainer Seele, Chairman of the Supervisory Board of Covestro, said: "Klaus Fröhlich is a proven financial expert with many years of experience in managing finances and companies in challenging market environments. With his clear financial perspective and his focus on performance, efficiency, and value creation, he will play an important role in further strengthening Covestro's competitiveness and in driving the consistent execution of the company's strategy."
"I am very much looking forward to my new role at Covestro and would like to thank the Supervisory Board for its trust," said Klaus Fröhlich. "The company has a strong technological foundation, dedicated employees, and a clear strategic direction. Together with the Board of Management and teams worldwide, I aim to contribute to advancing the company's transformation and enabling sustainable, profitable growth."
Klaus Fröhlich is Group Chief Investment Officer at the energy and chemical company ADNOC and has more than 25 years of experience in finance and international investment banking. He previously served as Chief Financial Officer in Saudi Arabia and worked for Morgan Stanley, most recently as Head of Investment Banking for the Middle East and North Africa.
Orderly succession in the finance function
Current Chief Financial Officer Christian Baier informed the Supervisory Board in December 2025 that he would not extend his contract and would leave Covestro at the end of his term in September 2026. With this early decision, he enabled a planned and orderly transition of his succession. Until his departure, Christian Baier will continue to perform his duties in full.
The Supervisory Board would like to thank Christian Baier for his dedication and for his important role during a strategically decisive phase for Covestro, particularly in further developing the company's strategy and successfully implementing key transformation initiatives.
About Covestro:
Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, Covestro aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group’s Scope 3 emissions are also set to be climate neutral by 2050. Covestro generated sales of EUR 12.9 billion in fiscal year 2025. At the end of 2025, the company had 46 production sites worldwide and employed approximately 17,600 people.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
