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 readLast updated: February 23, 2026
Tags:corporate governance
Quick Summary
Covestro said CEO Markus Steilemann will step down when his term ends on May 31, 2028. The supervisory board will start the process to choose a successor, indicating a planned and orderly transition.
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.
Frequently Asked Questions about Covestro CEO to step down at end of term in 2028
1What 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.
2When will Markus Steilemann step down?
He plans to leave the CEO role at the end of his current term on May 31, 2028.
3Who will handle the succession process?
Covestro’s supervisory board will initiate and oversee the process to appoint a successor in due course.
