Covestro Cut Loose From Bayer Puts New Freedom to Work
- CEO Thomas says quick decision making easier after spinoff
- Bayer’s Covestro stake could help get financing for Monsanto
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A 20-foot giraffe made from flip-flops littering Kenyan beaches will soon take pride of place at Covestro AG’s headquarters in Leverkusen, Germany. The impulse purchase by Chief Executive Officer Patrick Thomas underscores a new freedom to maneuver and speed up decision-making following the polymer maker’s spin off from Bayer AG last year.
“We’ve made tons of decisions, ones that would have been big and complex and taken a year at Bayer that we now just get on with,” Thomas said in an interview.