In autumn 2023, Lenzing AG's existing performance program was successfully initiated by the Managing Board. It 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 underscores its importance for the economic recovery of Lenzing AG and will make a significant contribution to achieving the goals. Additionally, this ensures that the existing Managing Board can devote all necessary resources to its core tasks in sales, operations, and finances.

Dr. Walter Bickel is a expert in executing yield increase programs, boasting decades of leadership experience in management consulting and high-ranking positions within industrial firms. With a track record of success, he has played pivotal roles in guiding comprehensive performance initiatives at companies like KUKA, Treofan, and Syntegon. Joining Lenzing, Walter Bickel will propel forward and expedite the performance program, which has already made substantial strides in bolstering earnings. His aim is to uncover further performance enhancement opportunities, ultimately striving for a significant, sustainable elevation of Lenzing's earning capacity and competitive edge.

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.”