Hifri to take top role for Covestro in US as Jonsson retires

There's going to be a change at the top for the U.S. operations of materials maker Covestro AG.

Samir Hifri will become chairman and president of Covestro LLC on July 1, replacing Haakan Jonsson, who will retire.

"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 news release.

Hifri joined Covestro — then Bayer — 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 center 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 chief financial officer and board member.

Jonsson joined Covestro as a scientist in 1992. He holds more than 20 patents and has held leadership roles spanning innovation, supply chain and production operations. He's served in his current role since January 2020.

Officials said that Jonsson "quickly had to shift gears from the normal course of business to safely sustaining U.S. operations in the face of a global pandemic." He also oversaw the U.S. integration of the resins and functional materials business acquired from DSM and the launch of the Covestro Circular Economy Program at the University of Pittsburgh.

"As my own Covestro journey comes to a close, I am confident that the U.S. organization will continue to grow and thrive under Samir's capable leadership," Jonsson said.

Covestro's U.S. presence includes roughly 2,700 employees and 13 site locations. The U.S. business represents approximately 25 percent of global Covestro sales.

Covestro is a global supplier of polycarbonate resins and films, thermoplastic PU, PU materials and foams, and other specialty chemicals and materials. The firm employs almost 18,000 and posted sales of $16.2 billion in its 2021 fiscal year.