The Lenzing Group, a leading provider of regenerated cellulose fibers, has announced changes to its Managing Board. Chief Transformation Officer Walter Bickel will step down from operational activities at the end of March 2025, following a mutual agreement with the company’s Supervisory Board.
Bickel, who joined the Managing Board on April 15, 2024, played a key role in advancing Lenzing’s performance program, exceeding planned targets. His leadership helped establish a foundation for long-term efficiency, ensuring the program’s seamless continuation.
“Walter Bickel and his team have made a significant contribution to improving Lenzing’s results. We thank him for his dedication and wish him success in the future,” said Cord Prinzhorn, Chairman of the Supervisory Board. CEO Rohit Aggarwal reaffirmed the company’s commitment to continuing the program with the same rigor.
Lenzing’s performance program focuses on strengthening resilience, agility, and financial stability. It aims to enhance EBITDA and free cash flow through improved profitability and cost efficiency. Efforts to expand into new markets and acquire customers have already boosted sales. Cost-saving measures resulted in over €130 million in savings in 2024, with targeted annualized savings exceeding 180 million from 2025 onward.
Financially, Lenzing achieved a 5.7 per cent revenue increase and a 30.4 per cent EBITDA rise in 2024 compared to 2023. Free cash flow also improved to €167 million, reversing a negative €122.8 million in 2023. The company remains focused on sustaining this momentum to reinforce its position as an industry leader.
