Lenzing AG, a leading provider of regenerated cellulose fibers, has announced that Dr. Walter Bickel, Chief Transformation Officer, will step down from the Managing Board by the end of March 2025. This decision, made jointly with the Supervisory Board, marks the end of his temporary mandate.
Appointed in April 2024, Bickel played a key role in leading Lenzing’s performance program, which has significantly exceeded expectations. Under his guidance, the company saw major improvements in efficiency and crisis resilience. Lenzing confirms the program will continue uninterrupted, now embedded firmly in the company’s strategy.
Chairman Cord Prinzhorn thanked Bickel for his contributions, while CEO Rohit Aggarwal emphasized that the transformation efforts will persist with the same momentum. The performance program has already resulted in revenue growth (+5.7%), a 30.4% EBITDA boost, and a turnaround in free cash flow—from negative EUR 122.8 million in 2023 to EUR 167 million in 2024. Lenzing now targets over EUR 180 million in annualized cost savings by 2025.
Bickel expressed gratitude for the collaborative progress made, highlighting a shared success in creating a sustainable performance foundation.
