Report
Expert Corporate Governance Service (ECGS)
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Etude de l'AG du 03/05/2017

General: Covestro is among the world's largest polymer producers. The Company's business activities are focused on the manufacturing 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, electrical and electronics, construction and the sports and leisure industries. Covestro has 30 production sites around the globe and as of 31 December 2016, employed approximately 15,600 people.

Covestro AG was founded as a subsidiary of Bayer AG on 20 August 2015 as a consequence of Bayer AG's decision to contribute its MaterialScience business to a stock corporation and to list shares of this company on a stock exchange in an initial public offering (IPO). On 1 September 2015, the control and profit and loss transfer agreement between Covestro Deutschland AG (formerly Bayer MaterialScience AG) and Bayer AG was terminated and Covestro Deutschland AG became a subsidiary of Covestro AG. Covestro AG's IPO was conducted on 7 October 2016. Following the IPO,

Bayer AG continued to hold 69% of the share in Covestro and has since reduced its shareholding to 53.3%. Therefore, Covestro AG remains a reporting segment of the Bayer Group.

Agenda: We have no concerns over the agenda items at this year's AGM.

Underlying
Covestro AG

Covestro AG is a global supplier of high-tech polymer materials and application solutions developed for these materials. Co. produces precursors for polyurethane foams and the high-performance plastic polycarbonate in addition to raw materials for coatings, adhesives and sealants as well as specialty products, including high-quality films. Other precursors such as chlorine and by-products like styrene are part of Co.'s range of products.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
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Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

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As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Analysts
Expert Corporate Governance Service (ECGS)

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