Rainer Seele, president of chemicals at ADNOC's XRG, has taken over as chair of Covestro AG after Richard Pott's resignation. This leadership change follows ADNOC's acquisition of Covestro, which was finalized on December 10, 2025, after an in-depth investigation by the European Commission. The acquisition involved a capital increase of EUR 1.17 billion to support Covestro's 'Sustainable Future' strategy.
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