Covestro LLC announces retirement of CEO Jerry MacCleary

Jerry MacCleary
Jerry MacCleary, CEO and chairman of the board at Covestro LLC, announces plans to retire at the end of 2019.

Retirement date set for end of 2019

Pittsburgh, May 8, 2019 — Today, Covestro LLC announced that Jerry MacCleary will retire from his current position as CEO and chairman of the board, effective December 31, 2019.

Click to tweet: Today, @CovestroUS CEO and Chairman @JerryMacCleary announced plans to retire at the end of 2019, capping a 40-year career with the global materials provider. Learn more: http://bit.ly/2PRnQh8.

MacCleary’s retirement caps a 40-year journey at Covestro, a global provider of high-tech materials. He first joined the company in November 1979 as an accountant. Since then, he has led a diverse career, spanning roles in sales, marketing, general management and strategic leadership. In 2004, MacCleary was named head of the North American Polyurethanes business – a responsibility he maintained even after taking the helm at Covestro LLC in 2012. MacCleary was named to his current position as CEO and chairman in 2018.

“I’ve had a long, fulfilling career with this company, and I’m incredibly proud of what we’ve accomplished over the years,” said MacCleary. “Covestro has a vibrant new culture, a strong, diverse leadership team and a promising future here in the region – I can’t think of a better time to retire. Saying goodbye to my Covestro family won’t be easy, but I’m looking forward to starting this next chapter of my life.”

MacCleary has led the North American organization through a number of transformative changes, including Covestro’s separation from Bayer AG and establishment as an independent company in 2015. His active engagement and influential leadership played a key role in shaping the new Covestro culture and brand in the United States.

He continues to be a strong advocate for the region. Under MacCleary’s leadership in 2018, Covestro committed to a $1.7 billion investment to build a new MDI plant in Baytown, Texas. (MDI is a key raw material for polyurethane production.) It was the largest single investment project in the company’s history – and a big win for the region.

MacCleary’s leadership extends into the chemical industry as well, where he serves as chairman of the American Chemistry Council’s Board of Directors and chairs its Sustainability Committee. He also serves on the Board of Directors for the National Association of Manufacturers and the Executive Committee for the Society of Chemical Industry.

Born and raised in Pittsburgh, MacCleary is passionate about his hometown and is actively engaged in the community. He serves on the Board of Directors for the Allegheny Conference on Community Development, the United Way of Southwestern Pennsylvania and the Imani Christian Academy. He is also a member of the Board of Trustees for the Children's Hospital of Pittsburgh Foundation, co-chair of the Executive Committee for The Advanced Leadership Initiative and a member of the Board of Directors for EQT.

Both inside and outside Covestro, MacCleary is known for championing initiatives that help to advance sustainability, innovation, and diversity and inclusion. He co-chairs “CEOs for Sustainability,” a Sustainable Pittsburgh initiative that encourages local companies to adopt more sustainable business practices. MacCleary also played a leading role in Covestro’s collaboration with the Pittsburgh Penguins and Carnegie Mellon University. The three Pittsburgh-based organizations joined forces last year in an innovative initiative, called “Rethink the Rink,” which aims to make hockey safer through material solutions.

“Our team, our business and our reputation in North America have thrived under Jerry’s leadership, and we’re grateful for his many contributions over the years,” said Dr. Markus Steilemann, CEO, Covestro AG. “While Jerry will retire at the end of 2019, the impact he’s had on our culture, community and industry will be felt for years to come.”

About Covestro LLC:

Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business, which is among the world’s largest polymer companies with 2018 sales of EUR 14.6 billion. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, electrical and electronics, and healthcare industries. Other sectors include sports and leisure, cosmetics and the chemical industry itself. Covestro has 30 production sites worldwide and employed approximately 16,800 people at the end of 2018.

Find more information at www.covestro.us.

Media Contacts:

Alice Sox, Phone: 412 413 5430
alice.sox@covestro.com

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This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

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