5 May 2026 — Covestro’s Supervisory Board has unanimously approved the appointment of Klaus Fröhlich as the company’s new Chief Financial Officer (CFO). The 53-year-old senior executive will take over the CFO role from Christian Baier starting 1 October 2026, while Christian Baier will step down from Covestro on 30 September 2026. Meanwhile, Klaus Fröhlich will join the Board of Management of Covestro AG.

Rainer Seele, Chairman of Covestro’s Supervisory Board, commented: “Klaus Fröhlich is a highly experienced financial executive with proven expertise in corporate finance and business governance across volatile global markets. His sharp financial insight and relentless focus on operational performance, cost efficiency and long-term value creation will significantly boost Covestro’s market competitiveness and support the steady implementation of the company’s global corporate strategy.”

Klaus Fröhlich said: “I am honored to take on this new leadership role at Covestro and thankful for the confidence from the Supervisory Board. Covestro boasts robust technological strengths, a dedicated global workforce and a clear sustainable development strategy. I will collaborate closely with the Board of Management and international teams to accelerate corporate transformation and drive sustainable profitable growth for Covestro.”

Klaus Fröhlich currently serves as Group Chief Investment Officer at Abu Dhabi National Oil Company (ADNOC), a leading energy and chemicals enterprise. He brings more than 25 years of extensive experience in corporate finance and global investment banking. His previous career highlights include serving as CFO at a company based in Saudi Arabia, holding key positions at Morgan Stanley, and most recently acting as Head of Investment Banking for the Middle East and North Africa (MENA) region.

Outgoing Covestro CFO Christian Baier notified the Supervisory Board in December 2025 of his decision not to renew his employment contract, planning to leave the company upon the expiry of his term in September 2026. His early decision enables a smooth and orderly leadership transition. Christian Baier will remain fully responsible for all CFO duties until his official departure date.

The Supervisory Board extended sincere appreciation to Christian Baier for his professional dedication and outstanding contributions during Covestro’s critical strategic phase. He played a pivotal role in further refining the corporate strategy and successfully implementing key transformation initiatives of the global chemicals manufacturer.