EQS-News: Lenzing strengthens Managing Board with Chief Transformation Officer

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.

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   Lenzing strengthens Managing Board with Chief Transformation Officer

     • Dr. Walter Bickel appointed member of the Managing Board as of April
       15
     • Focus on implementation and further development of the performance
       program

   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
   competitiveness.

   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.
   Bickel.”

   Photo download:
   [1]https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=WpcwH3KDjltp
   PIN: WpcwH3KDjltp

   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
    
   TENCEL™, LENZING™ ECOVERO™, VEOCEL™, LENZING™ and REFIBRA™ are  trademarks
   of Lenzing AG.

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

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   Language:    English
   Company:     Lenzing AG
                4860 Lenzing
                Austria
   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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