Lenzing AG Appoints New Chief Transformation Officer to Strengthen Management Board

Lenzing AG has announced the appointment of Dr. Walter Bickel as a member of the Managing Board and Chief Transformation Officer, starting April 15, 2024. This strategic move aims to bolster the implementation and further development of Lenzing's performance program. The program, initiated in autumn 2023, is designed to enhance free cash flow, sales, margin growth, and sustain cost excellence. Dr. Bickel's addition signifies the program's importance to Lenzing's economic recovery and its goal achievement.

With decades of experience in management consulting and senior roles in industrial firms, Dr. Bickel is recognized for his expertise in executing yield increase programs. His previous leadership has contributed to performance improvement initiatives at companies like KUKA, Treofan, and Syntegon. At Lenzing, he is expected to further improve and accelerate the performance program, paving the way for a substantial, sustainable increase in Lenzing's earning potential and competitiveness.

The expansion of the Managing Board, as highlighted by the Chairman of the Supervisory Board Cord Prinzhorn, is a critical step for Lenzing to navigate the current crisis and upcoming challenges effectively. Dr. Bickel's appointment reflects the company's commitment to strengthening its management team and enhancing business performance during challenging times.