Plastics News Europe - June 2018 - 26

MATERIALS

Q&A

Goodbye to
all that

One of the most successful IPOs in the past few years has been that of Covestro, the former Bayer
MaterialsScience. While the retirement of CEO Patrick Thomas is not expected to impact the
strong growth of Covestro, an era is coming to an end with the departure of this much-loved
quirky leader at the end of May. His message to his successor? "I wish him great success and to
have as much fun leading Covestro as I have had."

"

So, you're retiring this year after a long and
successful career. What's the plan for you
personally afterwards?
I am really looking forward to spending more time
with my family. My four kids are living in Japan, the
USA, UK and Belgium. I will also stay within the industry and be active on various supervisory boards
and further devote myself to the fight against plastic
waste.

"There is a global
challenge not only for
the plastics industry
but for all of us with
plastic waste that
ends up in the oceans.
We must find the right
answers to the
problem of
marine
litter"

Covestro saw yet another record year last
year, what were the key drivers for the
growth?
Covestro is a highly successful company, characterised by an innovative spirit, a high-performance
business, the enthusiasm of its people and close
collaboration with its customers. Main
drivers of our strong earnings
growth are the consistent high demand for high-performance plastics and significantly higher margins.
You have mentioned
increased investment as
a strategy going
forward. Could you be
more specific about
what industries,
segments and
regions they will
cover?
We intend to significantly increase our
investments to continue to take advantage of the
expected growth in the main customer industries.
These investments include all segments and regions
and are expected to be in excess of the depreciation
level. Furthermore, Covestro remains prepared to
use opportunities for acquisitions that strengthen
the portfolio and create value.

ing its profitable growth path until today. Our customer industries grow faster than the global economy and Covestro serves the needs for superior
materials arising from global megatrends; so the
general economic environment was, and still is, very
supportive of Covestro.
You have been an extremely approachable
CEO, is there any advice that you would pass
on to Markus as he leads the company in the
future?
I would not presume to offer him advice, however I
wish him great success and to have as much fun
leading Covestro as I have had.

Given the success that Covestro has become in
a short space of time, do you think the
company should have been spun off earlier?
In my opinion, the timing couldnĀ“t have been better:
Ever since Covestro became independent in 2015,
the company has achieved record results, continu26

JUNE 2018



Table of Contents for the Digital Edition of Plastics News Europe - June 2018

Contents
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Plastics News Europe - June 2018 - Contents
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Plastics News Europe - June 2018 - Cover3
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