EQS-News: Lenzing AG / Key word(s): Personnel
Lenzing strengthens Managing Board with Chief Transformation Officer

12.04.2024 / 18:45 CET/CEST
The issuer is solely responsible for the content of this announcement.


Lenzing strengthens Managing Board with Chief Transformation Officer

• Dr. Walter Bickel appointed member of the Managing Board as of April
• Focus on implementation and further development of the performance

Lenzing – The Supervisory Board of Lenzing AG appointed Dr. Walter Bickel
as a member of the Managing Board and Chief Transformation Officer of
Lenzing AG with effect from April 15, 2024 until December 31, 2025. The
experienced manager will strengthen the Lenzing Managing Board and will be
responsible for the further development and implementation of the
performance program. Lenzing AG’s existing performance program was
successfully initiated by the Managing Board in autumn 2023 and focuses on
positive free cash flow, strengthened sales and margin growth, and
sustainable cost excellence. The appointment of a separate member of the
Managing Board for the performance program underlines its importance for
the economic recovery of Lenzing AG and will make a significant
contribution to achieving the goals. In addition, this ensures that the
existing Managing Board can devote all the necessary resources to its core
tasks in sales, operations and finances.

Dr. Walter Bickel is a proven expert in implementing yield increase
programs. He has decades of leadership experience in management consulting
and in leading positions in industrial companies. As a member of top
management, he has successfully supported comprehensive performance
programs at companies such as KUKA, Treofan and Syntegon. At Lenzing,
Walter Bickel will further advance and accelerate the performance program,
which has already made important contributions to improving earnings, and
tap into additional performance improvement potential aiming for a
significant sustainable increase of Lenzing’s earning power and

Chairman of the Supervisory Board Cord Prinzhorn: “The simultaneity of
crisis management and business development requires a well-positioned team
that can meet these major challenges. After careful consideration, the
Supervisory Board came to the conclusion that expanding the Managing Board
is the right step to overcome the current crisis and the major challenges
associated with it. In Walter Bickel we have gained a great and
experienced manager and I am very much looking forward to working with
him. Together with the strong team around Stephan Sielaff, Walter Bickel
will help Lenzing come out of this difficult phase stronger.”

Statement Walter Bickel: “I am pleased to be able to contribute my
experience to Lenzing AG and am convinced that together – the Managing
Board and the company’s employees – we will achieve a significant
improvement in performance.”

Stephan Sielaff, CEO of Lenzing AG: “The performance program is set up in
a right way, shows effect and continues to need full attention. At the
same time, we must also make full use of the cautious signs of market
recovery. With this expansion of the Managing Board, I can fully focus on
the core business. I am therefore looking forward to working with Dr.

Photo download:
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Your contact for  
Public Relations: Investor Relations:
Dominic Köfner Sébastien Knus
Vice President Corporate Communications & Vice President Capital Markets
Public Affairs Lenzing Aktiengesellschaft
Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing,
Werkstraße 2, 4860 Lenzing, Austria Austria
Phone   +43 7672 701 2743 Phone     +43 7672 701 3599
E-mail   [2]media@lenzing.com E-mail     [4]s.knus@lenzing.com
Web      [3] www.lenzing.com Web        [5] www.lenzing.com


About the Lenzing Group
The Lenzing Group stands for eco-responsible production of specialty
fibers based on cellulose and recycled material. As an innovation leader,
Lenzing is a partner of global textile and nonwoven manufacturers and
drives many new technological developments. The Lenzing Group’s
high-quality fibers form the basis for a variety of textile applications
ranging from functional, comfortable and fashionable clothing to durable
and sustainable home textiles. Due to their special properties and their
botanical origin, the TÜV certified biodegradable and compostable Lenzing
fibers are also highly suitable for everyday hygiene products.
The business model of the Lenzing Group goes far beyond that of a
traditional fiber producer. Together with its customers and partners,
Lenzing develops innovative products along the value chain, creating added
value for consumers. The Lenzing Group strives for the efficient
utilization and processing of all raw materials and offers solutions to
help transform the textile industry from the current linear economic
system towards a circular economy. In order to reduce the speed of global
warming and thus also support the targets of the Paris Agreement and the
EU Commission’s “Green Deal”, Lenzing has developed a clear science-based
climate action plan that aims to significantly reduce greenhouse gas
emissions by 2030 and a net-zero goal (scope 1, 2 and 3) by 2050.
Key Facts & Figures Lenzing Group 2023
Revenue: EUR 2.52 bn
Nominal capacity: 1,110,000 tonnes
Employees (FTE): 7,917
of Lenzing AG.


12.04.2024 CET/CEST This Corporate News was distributed by EQS Group AG.


Language: English
Company: Lenzing AG
4860 Lenzing
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1879793

End of News EQS News Service

1879793  12.04.2024 CET/CEST


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