Ahead of its Annual General Meeting (AGM) on April 17, 2025, Lenzing AG’s Nomination Committee has revised the composition of its Supervisory Board. Cord Prinzhorn, the current Chairman, will step down at the end of his mandate to focus on his commitments within B&C Group.
Patrick Lackenbucher, Managing Director of B&C Group, has been nominated for election as a Supervisory Board member and is designated to assume the role of Chairman on an interim basis. With over 15 years of experience supporting Lenzing’s key strategic and financial initiatives, Mr. Lackenbucher is well-positioned to lead the board.
Statements from Key Leaders
Cord Prinzhorn:
“After four years on Lenzing AG’s Supervisory Board, my tenure is coming to an end. During this time, we have successfully completed major strategic investments in Brazil, Thailand, and China, improved cost efficiency, and strengthened Lenzing’s market position despite challenging conditions. I extend my gratitude to my fellow board members, the Managing Board, and especially Lenzing’s employees for their contributions to these achievements.”
Patrick Lackenbucher:
“Both core shareholders, B&C and Suzano, are committed to enhancing Lenzing’s global competitiveness in sustainable cellulosic fibers. The company’s strategic initiatives are already delivering positive results, and we will continue to focus on long-term profitability, innovation, and market expansion. I look forward to working closely with the Lenzing leadership team to drive sustainable growth.”
Rohit Aggarwal, CEO of Lenzing AG:
“Cord Prinzhorn has provided invaluable leadership during challenging times, helping initiate critical revenue and cost initiatives that have significantly improved our financial performance. On behalf of the Managing Board, I thank him for his exceptional collaboration. We also welcome Patrick Lackenbucher as our designated Chairman, whose deep industry expertise and long-standing experience with Lenzing will be instrumental in shaping our future.”
Supervisory Board Updates
In addition to Patrick Lackenbucher’s appointment, Leonardo Grimaldi, Executive Vice President at Suzano S/A, has been proposed as a new Supervisory Board member. He will replace Marcelo Bacci, who has left Suzano. Mr. Grimaldi brings extensive expertise in the global pulp market and serves on the Supervisory Boards of Portocel and Veracel Celulose S/A.
Timeline of Changes
- Cord Prinzhorn will continue as Supervisory Board Chairman until the 81st Annual General Meeting on April 17, 2025.
- Patrick Lackenbucher is expected to be formally elected as Chairman during the constituting Supervisory Board meeting immediately following the AGM.
For more updates, visit www.lenzing.com.
