Covestro India appoints Mr. Anand Srinivasan as the new Managing Director

MUMBAI, DECEMBER 18, 2019: Covestro India, one of India's leading producers of advanced and high-performance polymers announced the appointment of Mr. Anand Srinivasan, currently the Head of Polycarbonates, as its new Managing Director. Srinivasan shoulders this role, effective 18th December 2019, from Mr. Ajay Durrani who served as the Managing Director of Covestro India for six years. Mr. Durrani has been a part of Covestro for over two decades successfully handling his responsibilities at various positions.

Mr. Anand Srinivasan has been working closely with Mr. Durrani to allow a smooth transition of business ensuring continuity of leadership. After moving to India from USA, Anand took over as the Plant Manager of Ankleshwar facility and went on to head the Supply Chain Center in Mumbai. Currently, he heads the Polycarbonates business in India.

Commenting on the appointment, Stephan Rosenthal, Head of Country platform management, Covestro AG said, "India is one of the growing markets in the world and we are happy to have Anand as the Managing Director of Covestro India. He understands the vision of the company intrinsically and we are confident that he will effectively lead in his new role".

"I am extremely pleased to take over this role at an exciting phase of the company. Together with our team and partners our focus will be to strengthen our partnerships and build new relationships for future growth. We are committed to build our product portfolio and take initiatives that touch many lives and make the world a brighter place", said Anand Srinivasan, Managing Director, Covestro (India) Private Limited.

About Covestro:

With 2018 sales of EUR 14.6 billion, Covestro is among the world’s largest polymer companies. 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, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. The company is very well established in India with three manufacturing facilities across the country at Greater Noida, Ankleshwar and Cuddalore. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.

Find more information at: www.covestro.in

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Forward-looking statements

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.