Covestro has announced the appointment of Klaus Fröhlich as its new Chief Financial Officer, following a unanimous decision by the company’s Supervisory Board. Mr Fröhlich, 53, will assume the position on October 1, 2026, succeeding Christian Baier, who will step down at the end of September 2026. Mr Fröhlich will also join the Board of Management of Covestro AG.
The appointment marks a planned leadership transition as the company continues to advance its long-term growth and transformation strategy in a dynamic global market environment. Rainer Seele, Chairman of the Supervisory Board of Covestro, said Mr Fröhlich brings extensive expertise in finance, investment management and corporate leadership gained over more than two decades in international markets.
“Klaus Fröhlich combines deep financial knowledge with strong strategic capabilities,” Seele said. “His experience in steering organizations through complex market conditions and his focus on operational efficiency and sustainable value creation will support Covestro’s continued development and strengthen the company’s competitive position globally.”
Mr Fröhlich currently serves as Group Chief Investment Officer at ADNOC, where he oversees investment activities across the energy and chemicals sectors. Prior to joining ADNOC, he held senior financial leadership roles in Saudi Arabia and spent several years at Morgan Stanley, most recently as Head of Investment Banking for the Middle East and North Africa.
Commenting on his appointment, Mr Fröhlich said he is eager to begin working with Covestro’s leadership and employees worldwide. “Covestro has built a strong reputation through innovation, advanced technology and a clear commitment to sustainable growth,” he said. “I look forward to supporting the company’s transformation journey and contributing to its long-term success together with the global team.”
The company also confirmed that outgoing CFO Christian Baier informed the Supervisory Board in December 2025 of his decision not to renew his contract beyond September 2026. Covestro said the early notification enabled a structured succession process and a smooth handover of responsibilities.
Mr Baier will continue in his role until the end of his term. The Supervisory Board expressed appreciation for his leadership and contribution during a pivotal period for the company, particularly in shaping strategic initiatives and advancing major transformation programs.
Covestro is a global producer of high-performance polymer materials serving industries including mobility, construction, electronics, healthcare and telecommunications. The company reported sales of EUR 12.9 billion in fiscal year 2025 and employed around 17,600 people across 46 production sites worldwide.
