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Markus Steilemann

Chief Executive Officer (Chairman of the Board of Management), Covestro AG

Search every verified Markus Steilemann interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Markus Steilemann, CEO of Covestro, has been publicly discussing the company's negotiations with Abu Dhabi National Oil Company (ADNOC) regarding a potential acquisition. In October 2024, he described the deal as "unprecedented," noting it would be the largest transaction between a strategic investor from the Middle East and a German DAX-listed company. He stated that the negotiated package includes a share price, support for Covestro's strategy and culture, and a capital injection of more than 1.1 billion euros to accelerate the company's growth and sustainable future strategy. Steilemann also addressed the lack of political opposition to the deal compared to other foreign takeovers, saying that job protection agreements are part of the package and that the government is responsible for answering questions of national interest. Throughout 2024, Steilemann has commented on the challenging economic environment for the chemical industry, citing geopolitical tensions, inflation, and high interest rates as factors weighing on customer industries. He said in July 2024 that the company does not expect an economic rebound for the remainder of the year, though he noted Covestro is "well prepared" and has taken cost-saving measures. In April 2024, he reported a solid start to the year with significant volume growth, but cautioned that it was "too early to say we are through the worst times." Steilemann has also spoken about his role as president of the German chemical industry association, where he has lobbied for improvements to Germany's structural challenges.

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