Covestro confirms new Supervisory Board Chairman after completion of XRG strategic partnership

Covestro confirms new Supervisory Board Chairman after completion of XRG strategic partnership

(IN BRIEF) Covestro has announced a change in leadership on its Supervisory Board following the completion of its strategic partnership with XRG. Dr. Rainer Seele was elected Chairman on 18 December 2025 and assumed the role on 20 December, succeeding Dr. Richard Pott, who has stepped down after more than a decade of service. Dr. Pott played a central role in guiding Covestro through major milestones, including its separation from Bayer, IPO, and strategic realignment with XRG. Dr. Seele brings extensive international experience from the energy and chemicals sectors and is expected to support Covestro’s continued transformation with a focus on sustainability, circular economy initiatives, and long-term value creation.

(PRESS RELEASE) LEVERKUSEN, 22-Dec-2025 — /EuropaWire/ — Covestro has confirmed a change in leadership on its Supervisory Board following the completion of its strategic partnership with XRG. On 18 December 2025, the Supervisory Board elected Dr. Rainer Seele as its new Chairman, with the appointment taking effect on 20 December 2025. He succeeds Dr. Richard Pott, who has stepped down after many years of service.

The leadership transition comes shortly after the strategic partnership between Covestro and XRG was formally completed on 10 December 2025. The Board described the timing of the change as a natural next step following the conclusion of the transaction, which marks a new phase in Covestro’s long-term development.

Dr. Richard Pott has chaired Covestro’s Supervisory Board since the company’s establishment in 2015 and has been closely associated with its transformation over the past decade. During his tenure, he oversaw key milestones including Covestro’s separation from Bayer, its initial public offering, and the company’s recent strategic realignment through the partnership with XRG. In his remarks, Dr. Pott reflected on the company’s journey and expressed confidence that the partnership with XRG provides a strong foundation for Covestro’s future direction.

Dr. Rainer Seele brings extensive international leadership experience across the energy and chemicals sectors to his new role. Since 2025, he has served as President of XRG’s global chemicals business and played a central role in shaping the partnership between XRG and Covestro. His previous roles include serving as Chief Executive Officer of OMV AG from 2015 to 2021, as well as holding senior leadership positions at Wintershall. Dr. Seele holds a doctorate in chemistry.

Commenting on his appointment, Dr. Seele highlighted Covestro’s technological capabilities, skilled workforce, and strategic focus on sustainability and the circular economy. He also acknowledged the contribution of his predecessor and emphasised continuity as the company advances its transformation under the leadership of the Management Board, headed by Dr. Markus Steilemann, and within the XRG partnership framework.

About Covestro: 

Media contact:

Markus Kleine-Beck
Global Trade Media Relations
tel:+49 173 2320 686
markus.kleine-beck@covestro.com

SOURCE: Covestro AG