Covestro announces new U.S. executive leadership

Samir Hifri (left) will succeed Haakan Jonsson (right) as chairman and president of Covestro LLC, effective July 1, 2023. Photo Credit: Covestro AG

Material supplier Covestro AG is appointing Samir Hifri as the new chairman and president of Covestro LLC, its U.S. operations, effective July 1, replacing Haakan Jonsson, who will retire after 30-plus years with the company.

“I’m both humbled and grateful for the opportunity to lead and work alongside the talented U.S. team, as we continue to advance the company’s vision of becoming fully circular,” Hifri said in a Jan. 18 news release.

Hifri joined Covestro in 1998 as a commercial trainee at the firm’s U.S. headquarters in Pittsburgh. Since then he’s led a diverse career spanning product management, sales and marketing, supply chain and country management. Hifri has worked at 10 Covestro sites across six countries and three continents.

Currently, Hifri serves a dual role as senior vice president and managing director of Covestro Hong Kong, as well as head of the supply chain and logistics centre for the Asia Pacific region.

“With his passion for people, deep knowledge of Covestro’s global business and strong ties to America, Samir is well suited to lead the U.S. organization into the future,” said Thomas Toepfer, Covestro’s chief financial officer and board member.

Jonsson joined Covestro as a scientist in 1992, and has served as chairman and president since January 2020. He holds more than 20 patents.

Covestro’s U.S. presence includes approximately 2,700 employees and 13 site locations across the states of Georgia, Illinois, Indiana, Massachusetts, Ohio, Pennsylvania, Rhode Island, Texas, and West Virginia. The U.S. business represents approximately 25 per cent of global Covestro sales.

Covestro is a global supplier of polycarbonate resins and other specialty chemicals and materials. The firm employs about 17,900 workers and posted sales of US$16 billion in its 2021 fiscal year.