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Global Materials Provider Announces Retirement of CEO

Covestro announced that Jerry MacCleary (pictured) will retire as chief executive officer and chairman of the board of Covestro at the end of 2019. Photo courtesy of Covestro.

Effective December 31, 2019, Jerry MacCleary will retire from his current position as chief executive officer (CEO) and chairman of the board of Covestro (Pittsburgh, Pennsylvania, USA), thus concluding a 40-year career with the company.

Born and raised in Pittsburgh, MacCleary first joined Covestro in 1979 as an accountant. Since that time, MacCleary served the company in various sales, marketing, and leadership roles before becoming head of the North American Polyurethanes business in 2004. MacCleary maintained this position even after he assumed leadership of Covestro in 2012 and was named 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,” says MacCleary. “Saying goodbye to my Covestro family won’t be easy, but I’m looking forward to starting this next chapter of my life.”

MacCleary led the North American organization through a number of significant changes, including its separation from Bayer AG (Leverkusen, Germany) and the formation of Covestro as an independent entity in 2015. In addition, it was while he was CEO in 2018 that Covestro invested $1.7 billion in a new methylene diphenyl diisocyanate (MDL) plant in Baytown, Texas, which was the largest single investment in the company’s history.

The departing CEO and chairman advocated for sustainability initiatives both within Covestro and in the chemical industry as a whole. For instance, MacCleary co-chaired a Sustainable Pittsburgh initiative that encourages local businesses to adopt sustainable practices. MacCleary’s leadership also extended to other industry organizations, such as chairman of the American Chemistry Council’s Board of Directors.

“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,” says Covestro AG CEO Markus Steilemann. “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.”

Source: Covestro, www.covestro.us.