Covestro Management

Management criteria checks 3/4

Covestro's CEO is Markus Steilemann, appointed in Aug 2015, has a tenure of 9.25 years. total yearly compensation is €4.66M, comprised of 27.8% salary and 72.2% bonuses, including company stock and options. directly owns 0.016% of the company’s shares, worth €1.72M. The average tenure of the management team and the board of directors is 3.3 years and 6 years respectively.

Key information

Markus Steilemann

Chief executive officer

€4.7m

Total compensation

CEO salary percentage	27.8%
CEO tenure	9.3yrs
CEO ownership	0.02%
Management average tenure	3.3yrs
Board average tenure	6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Markus Steilemann's remuneration changed compared to Covestro's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-€261m
Jun 30 2024	n/a	n/a	-€325m
Mar 31 2024	n/a	n/a	-€207m
Dec 31 2023	€5m	€1m	-€198m
Sep 30 2023	n/a	n/a	-€910m
Jun 30 2023	n/a	n/a	-€867m
Mar 31 2023	n/a	n/a	-€714m
Dec 31 2022	€4m	€1m	-€272m
Sep 30 2022	n/a	n/a	€929m
Jun 30 2022	n/a	n/a	€1b
Mar 31 2022	n/a	n/a	€2b
Dec 31 2021	€5m	€1m	€2b
Sep 30 2021	n/a	n/a	€2b
Jun 30 2021	n/a	n/a	€1b
Mar 31 2021	n/a	n/a	€832m
Dec 31 2020	€4m	€1m	€459m
Sep 30 2020	n/a	n/a	€184m
Jun 30 2020	n/a	n/a	€152m
Mar 31 2020	n/a	n/a	€393m
Dec 31 2019	€4m	€1m	€552m
Sep 30 2019	n/a	n/a	€594m
Jun 30 2019	n/a	n/a	€943m
Mar 31 2019	n/a	n/a	€1b
Dec 31 2018	€4m	€916k	€2b
Sep 30 2018	n/a	n/a	€2b
Jun 30 2018	n/a	n/a	€2b
Mar 31 2018	n/a	n/a	€2b
Dec 31 2017	€2m	€552k	€2b

Compensation vs Market: Markus's total compensation ($USD4.88M) is about average for companies of similar size in the Austrian market ($USD4.27M).

Compensation vs Earnings: Markus's compensation has increased whilst the company is unprofitable.

CEO

Markus Steilemann (54 yo)

9.3yrs

Tenure

€4,659,000

Compensation

Dr. Markus Steilemann has been the Member of Supervisory Board of Fuchs SE (formerly known as Fuchs Petrolub SE) since May 03, 2022. He is Member of Management Board since August 20, 2015 of Covestro AG an...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Markus Steilemann	CEO & Chairman of Management Board	9.3yrs	€4.66m	0.016% € 1.7m
Christian Baier	CFO & Member of Management Board	1.1yrs	€5.83m	no data
Sucheta Govil	Chief Commercial Officer & Member of Management Board	5.2yrs	€2.39m	0.0079% € 857.4k
Thorsten Dreier	CTO & Member of Management Board	1.3yrs	€3.21m	0.0025% € 275.7k
Ronald Koehler	Head of Investor Relations	no data	no data	no data
Uwe Arndt	Head of MDI Site	no data	no data	no data
Nils Janus	Head of Artificial Intelligence	no data	no data	no data
Sophie von Saldern	Global Head of Human Resources	no data	no data	no data
Carsten Intveen	Investor Relations Director	no data	no data	no data

3.3yrs

Average Tenure

54yo

Average Age

Experienced Management: 1COV's management team is considered experienced (3.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Richard Pott	Independent Chairman of Supervisory Board	9.3yrs	€378.00k	no data
Petra Kronen	Vice Chairman of Supervisory Board	9.1yrs	€261.00k	no data
Lise Kingo	Member of the Supervisory Board	3.6yrs	€194.00k	no data
Patrick Thomas	Independent Member of Supervisory Board	4.3yrs	€226.00k	no data
Regine Stachelhaus	Independent Member of Supervisory Board	9.1yrs	€196.00k	no data
Christine Bortenlanger	Independent Member of Supervisory Board	9.1yrs	€177.00k	no data
Sven Schneider	Shareholder Representative Member of the Supervisory Board	2.6yrs	€221.00k	no data
Irena Küstner	Member of Supervisory Board	9.1yrs	€177.00k	no data
Marc Stothfang	Member of Supervisory Board	7.8yrs	€162.00k	no data
Christoph Gurtler	Employee Representative Member of the Supervisory Board	2.6yrs	€197.00k	no data
Frank Lollgen	Employee Representative Member of the Supervisory Board	2.6yrs	€128.00k	no data
Oliver Heinrich	Member of the Supervisory Board	less than a year	no data	no data

6.0yrs

Average Tenure

59yo

Average Age

Experienced Board: 1COV's board of directors are considered experienced (6 years average tenure).

Covestro Management

Management criteria checks 3/4

Key information

Recent management updates

Covestro Ag Appoints Christian Baier as Chief Financial Officer as from 1 October 2023

Covestro AG, Annual General Meeting, Apr 19, 2023

Recent updates

Third quarter 2024 earnings released: EPS: €0.17 (vs €0.16 loss in 3Q 2023)

Covestro AG to Report First Half, 2025 Results on Jul 31, 2025

Second quarter 2024 earnings released: €0.38 loss per share (vs €0.24 profit in 2Q 2023)

Covestro AG to Report Q1, 2025 Results on May 06, 2025

Abu Dhabi National Oil Company proposed to acquire Covestro AG (XTRA:1COV) for €11.7 billion.

First quarter 2024 earnings released: €0.18 loss per share (vs €0.14 loss in 1Q 2023)

Covestro AG to Report Fiscal Year 2024 Results on Feb 26, 2025

Covestro Says No Deadline to Conclude ADNOC talks, to Take the Necessary Time to Conclude ADNOC talks

New major risk - Financial position

Full year 2023 earnings released: €1.05 loss per share (vs €1.43 loss in FY 2022)

Covestro AG to Report Q3, 2024 Results on Oct 29, 2024

New minor risk - Share price stability

Third quarter 2023 earnings released: €0.16 loss per share (vs €0.063 profit in 3Q 2022)

Covestro AG to Report Q2, 2024 Results on Jul 30, 2024

Covestro to Start Formal Talks on Abu Dhabi National Oil Company Bid

Covestro Board Reportedly to Decide over Formal Talks on $12bn ADNOC Approach

Covestro Ag Appoints Christian Baier as Chief Financial Officer as from 1 October 2023

New major risk - Financial position

Second quarter 2023 earnings released: EPS: €0.24 (vs €1.04 in 2Q 2022)

Covestro AG to Report Q1, 2024 Results on Apr 30, 2024

New major risk - Share price stability

ADNOC Reportedly Makes Takeover Approach to Covestro

Now 21% undervalued

Investor sentiment improved over the past week

Third quarter 2022 earnings released: EPS: €0.063 (vs €2.44 in 3Q 2021)

Covestro AG to Report First Half, 2023 Results on Aug 01, 2023

Stratasys Ltd. (NasdaqGS:SSYS) signed an agreement to acquire Additive Manufacturing Materials Business from Covestro AG (XTRA:1COV) for €80 million.

Second quarter 2022 earnings released: EPS: €1.04 (vs €2.32 in 2Q 2021)

Covestro AG to Report Q1, 2023 Results on Apr 28, 2023

Investor sentiment deteriorated over the past week

First quarter 2022 earnings released: EPS: €2.15 (vs €2.04 in 1Q 2021)

Covestro AG, Annual General Meeting, Apr 19, 2023

Upcoming dividend of €3.40 per share

Covestro AG to Report Q3, 2022 Results on Oct 25, 2022

Covestro AG Proposes Dividend for the Full Year 2021

Covestro AG and TactoTek to Debut New Smart Surfaces at CES 2022

Third quarter 2021 earnings released: EPS €2.44 (vs €0.98 in 3Q 2020)

First quarter 2021 earnings released: EPS €2.03 (vs €0.11 in 1Q 2020)

Upcoming dividend of €1.30 per share

Full year 2020 earnings released: EPS €2.48 (vs €3.02 in FY 2019)

New 90-day high: €59.50

New 90-day high: €56.68

New 90-day high: €51.70

New 90-day high: €50.34

New 90-day high: €46.99

Covestro AG to Report First Half, 2021 Results on Jul 27, 2021

Covestro AG (XTRA:1COV) reached an agreement to acquire Resins & Functional Materials and associated businesses from Koninklijke DSM N.V. (ENXTAM:DSM) for purchase price of €1.6 billion.

Serafin Unternehmensgruppe GmbH completed the acquisition of European Polycarbonate Sheets Business of Covestro AG (XTRA:1COV).

Covestro AG to Report Q1, 2021 Results on Apr 28, 2021

Covestro Ag Announces No Guidance for Year 2021, 2022

Upcoming Dividend of €2.40 Per Share

New 90-day high - €37.54

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age