Lenzing CTO Dr Walter Bickel Exits Managing Board
The Lenzing Group, a leading global supplier of regenerated cellulose fibres for the textile and nonwoven industries, has announced a key personnel change on its Managing Board. The Supervisory Board of Lenzing AG and Dr Walter Bickel, Chief Transformation Officer, have mutually agreed to conclude his temporary mandate, with Dr Bickel set to step down from operational duties at the end of March 2025.
Appointed on April 15, 2024, Dr Bickel joined the Managing Board to spearhead Lenzing’s comprehensive performance programme. Under his leadership, the programme not only exceeded planned targets but also laid a strong foundation for future improvements. The programme has now been structured to ensure its seamless continuation by the company.
“Walter Bickel and his team assumed responsibility for the performance programme a year ago and have made substantial contribution to enhancing the group’s results. We sincerely thank him for his dedicated service and wish him continued success,” said Cord Prinzhorn, Chairman of the Supervisory Board, Lenzing AG.
“With the consistent execution of our performance programme, which is now significantly ahead of plan, we’ve strengthened the company’s resilience and operational agility. We will continue to pursue the programme with unwavering discipline to ensure Lenzing retains its position as the industry’s leading integrated fibre group and innovation driver,” stated Rohit Aggarwal, Chief Executive Officer, Lenzing Group.
Reflecting on his tenure, Dr Bickel commented, “I look back on a successful and fulfilling time at Lenzing. Together, we’ve established a sustainable performance framework that will continue to benefit the company. I extend my heartfelt thanks to the Managing Board and the entire Lenzing team for their collaboration.”
Lenzing’s holistic performance programme aims to enhance long-term crisis resilience and responsiveness to market shifts. Its core objectives include boosting EBITDA and free cash flow through profitability improvements and sustainable cost efficiencies. Strategic initiatives under the programme have already led to increased customer acquisitions and expansion into new markets, positively impacting sales.
In 2024, these efforts translated into strong financial results: revenue rose by 5.7% year-on-year, EBITDA surged by 30.4%, and free cash flow improved to EUR 167.0 million, compared to a negative EUR 122.8 million in 2023. The company is targeting annualized cost savings exceeding EUR 180 million starting in the 2025 financial year.
