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update 1-german plastics maker covestro' cfo quits after passed over for ceo role - polycarbonate transparent

by:Cailong     2019-08-09
update 1-german plastics maker covestro\' cfo quits after passed over for ceo role  -  polycarbonate transparent
* Board members appointed as CEO
Designated last week as * Lutz played a key role in covestra spin
The spokesman said the new chief financial officer has not yet been appointed (
Add new CFO, background, shares that have not been named yet)
Hamburg, Ludwig, Frankfurt, June 1 (Reuters)-
The parent company Bayer plans to sell plastic maker Costello said on Thursday that after an executive board member was appointed CEO, Frank Lutz, the company's treasurer, resigned
Specified more than a week ago.
In a brief statement, the company said Lutz also served as labor director and issued a resignation notice at the end of Friday, June 2.
"The chairman of the Board of Supervisors has taken note of this decision with regret," it added . ".
The company said last week that Markus steilemmann, an executive board member, will succeed chief executive Patrick Thomas in October 2018 ).
Lutz, a former banker whose previous role includes the treasurer of truck maker man se, has been the chief financial officer of cove ströro since 2014 and is in insulated foam and transparent polycarbonate plastic
Left Bayer and went public separately on October 2015.
A spokesman for cove Stroo declined to comment on the reasons for his departure, adding that a new CFO has not yet been appointed.
After the news, the stock briefly fell 2%, but closed down 0.
High 6%
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