August 13, 2015

Covestro Management Board named

Patrick Thomas and Frank H. Lutz confirmed as CEO and CFO / Klaus Schäfer (Industrial Operations) and Markus Steilemann (Innovation) newly appointed / Chairman of the MaterialScience Supervisory Board Richard Pott: "Best team for Covestro as a stand-alone company"
Leverkusen, August 13, 2015 - The Supervisory Board of Bayer MaterialScience AG
(in future: Covestro) has named the members of the future Covestro Board of
Management effective September 1, 2015. Patrick Thomas (57) has been confirmed
as Chairman of the Board of Management of Covestro. He has been CEO of Bayer
MaterialScience since 2007. Frank H. Lutz (46), who joined Bayer
MaterialScience in October 2014, will remain Chief Financial Officer of
Covestro. Moreover, he will assume the function of Labor Director from Michael
Bernhardt (48), who will leave the Board of Management to head an expanded
Human Resources function for Covestro.

Newly appointed to the Covestro Board of Management are Dr. Klaus Schäfer (52)
and Dr. Markus Steilemann (45). Schäfer will hold Board responsibility for
Industrial Operations (Chief Industrial Operations Officer) covering production
and technology. Steilemann will initially be the Board member responsible for
Innovation and, until December 31, 2015, will also retain his function as Head
of the Polycarbonates Business Unit. From January 1, 2016, he will additionally
assume Board responsibility for the Polyurethanes Business Unit. Dr. Joachim
Wolff, who is currently responsible for the Polyurethanes Business Unit, will
retire on December 31, 2015. Daniel Meyer, the present Head of Coatings,
Adhesives and Specialties, will remain responsible for this business unit's
operations. The new Head of the Polycarbonates Business Unit will be announced
at a later date.

"We are convinced we have made the right personnel decisions for the success of
Covestro as a stand-alone company. Steered by this experienced management team,
we intend to position Covestro as a leading company in the global arena and
continue to grow dynamically in the future," said Dr. Richard Pott, Chairman of
the Supervisory Board of Bayer MaterialScience AG. Patrick Thomas added: "Going
forward we aim to further strengthen customer proximity, innovative capability,
efficiency and profitability - all of which are of crucial importance to
Covestro. I am greatly looking forward to working with the new Management Board

From September 1, 2015, Bayer MaterialScience will be known as Covestro. Bayer
aims to float this business on the stock market by mid-2016 at the latest. The
plans for the carve-out of Bayer MaterialScience were announced in September

Patrick Thomas has been Chairman of the Board of Management of Bayer
MaterialScience AG since January 1, 2007. He was born on September 30, 1957 in
Portsmouth, United Kingdom. Thomas graduated with an engineering degree from
Oxford University in 1979. In the same year, he began his career at British
chemical company Imperial Chemical Industries (ICI) and, until 1989, held a
number of positions for ICI Pharmaceuticals and Agrochemicals (which became
Zeneca in 1993) in the United Kingdom. In 1989 Thomas transferred to ICI
Polyurethanes in Belgium, where he undertook various managerial assignments
until his appointment as Regional Director for Europe, Africa & Middle East in
1993. Four years later, he was named global CEO of ICI Polyurethanes.

In 1999 Thomas joined U.S. chemical company Huntsman as President of
Polyurethanes, Performance and Advanced Materials Divisions, also based in
Belgium. He was then appointed Corporate Executive Vice President of Huntsman
Matlin Patterson in 2003. After a brief spell as a management consultant for
private equity companies in the industrial sector, Thomas joined Bayer
MaterialScience on August 15, 2006.

Thomas is President of PlasticsEurope, the European association of plastics
producers, and of the Oxford University Business Economics Program (OUBEP). He
also chairs the advisory board of the European Institute for Industrial
Leadership and is a non-executive director of BG Group plc.

Frank H. Lutz became a member of the Board of Management and Executive
Committee of Bayer MaterialScience on October 1, 2014, where he was made
responsible for finance one month later. His responsibilities on the Executive
Committee also include administration and services along with the Europe,
Africa and Middle East regions (EMEA / EEMEA).

Lutz was born in Stuttgart, Germany, on December 14, 1968. He studied economics
and business administration with a focus on banking at the University of St.
Gallen in Switzerland. Lutz started his career at Goldman Sachs in 1995,
holding various positions of increasing responsibility in London, Frankfurt and
New York up until December 2004. After a period working for Deutsche Bank, he
was appointed Senior Vice President for Finance at MAN. Three years later he
became Chief Financial Officer of MAN SE, Munich, Germany. On May 1, 2013, Lutz
was appointed to the Coordination Council of the Aldi Süd group of companies,
where as CFO he had responsibility for the retailer's finances.

Dr. Klaus Schäfer has been a member of the Executive Committee of Bayer
MaterialScience and Head of Industrial Operations since January 1, 2015.
Schäfer was born in Brühl, Germany, on September 2, 1962. He studied physics
and obtained his doctorate at Cologne University. In 1991, he began his career
as an operations engineer at Erdölchemie, a former joint venture between Bayer
and BP. After various posts in Production and Technology, he transferred to BP
in Grangemouth, Scotland, in 2000. He was responsible there for the technical
infrastructure of the refinery and petrochemicals site.

Schäfer joined Bayer in 2001, holding global responsibility for process control
technology in the Plastics Business Group. Over the course of the company's
evolution - first the formation of Bayer Polymers in 2002, then the founding of
Bayer MaterialScience - he was responsible for technical services and the
provision of infrastructure services for the company's production facilities.
In 2006, Schäfer was appointed member and Chairman of the Board of Management
of Bayer Industry Services (now Currenta, a joint venture of Bayer and Lanxess).

Five years later, he joined Bayer MaterialScience as Senior Country
Representative for China. In 2013, Schäfer became Head of Production and
Technology in the Polyurethanes Business Unit before assuming responsibility
for Industrial Operations.

Dr. Markus Steilemann is a member of the Executive Committee of Bayer
MaterialScience and has been Head of the Polycarbonates Business Unit since
April 1, 2013. A PhD chemist, Steilemann joined Bayer as an internal consultant
in the company's former Corporate Planning Division in 1999. He held various
positions of increasing responsibility and gained broad experience of business
modeling, organizational development and supply chain.

In January 2008, he transferred to the Polycarbonates Business Unit in Hong
Kong, where he headed a number of regional business segments. Steilemann
relocated to the global headquarters of the Polycarbonates Business Unit in
Shanghai in August 2011. He was appointed Head of Global Industrial Marketing
for the Polycarbonates Business Unit in July 2012.

Steilemann was born in Geilenkirchen, Germany, on April 30, 1970. He studied
chemistry at RWTH Aachen University, Germany, and the University of Zurich,
Switzerland. He holds a PhD in technical chemistry and a master's degree in
industrial chemistry from RWTH Aachen University

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