Lenzing AG

Board/Management Information • Aug 21, 2024

News Details

Corporate | 21 August 2024 14:54

Changes to Management Board of Lenzing AG

EQS-News: Lenzing AG / Key word(s): Personnel

Changes to Management Board of Lenzing AG

21.08.2024 / 14:54 CET/CEST

The issuer is solely responsible for the content of this announcement.

Changes to Management Board of Lenzing AG

• Rohit Aggarwal to take over as CEO of Lenzing AG as of September 1, 2024
• Stephan Sielaff will leave at the end of August 2024

Lenzing – The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, changes the composition of Management Board. Effective 1 September 2024, Rohit Aggarwal will join the Management Board as CEO. Stephan Sielaff, outgoing CEO of the company, will leave Lenzing at the end of August 2024 by mutual agreement with the Supervisory Board.

Incoming CEO Rohit Aggarwal is a strategic business economist and global leader in the industry, has several decades of experience in leading positions in the textile and chemical industry. Rohit Aggarwal has a sound understanding of the strategic development of international markets and the establishment of efficient management teams through global management positions in Europe, the USA and Asia. Thanks to his broad experience in the global textile, non-woven and fiber markets, he is well versed with Lenzing’s core business in all its facets, both in terms of content and geography.

Lenzing Supervisory Board Chairman Cord Prinzhorn: “This summer, we have managed a highly professional and smooth transition from Stephan Sielaff to his successor. I would like to thank Stephan for his achievements in paving a path of strong improvements during a period of multiple challenges for the company. With Rohit Aggarwal, we have found the right person to manage the ambitious tasks that still lie ahead.”

Stephan Sielaff: “Today we see a better Lenzing as a result of the massive efforts of the whole team worldwide in a still highly challenging market environment. I would like to express my greatest respect for all those who accompanied me on my journey in Lenzing – I am convinced that we have laid the foundation for an outstanding future for Lenzing.”

Rohit Aggarwal: “I would like to thank Stephan Sielaff for the careful handover and look forward to working very closely with the Lenzing team in the future. Together with the entire management board and all Lenzing colleagues we will guide the company towards a successful future as a leading player in the sustainable textile industry. However, we must not forget that the markets remain challenging, and we must continue to put all our efforts into the turnaround of Lenzing.”

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Your contact for Public Relations: Dominic Köfner Vice President Corporate Communications & Public Affairs Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing, Austria Phone +43 7672 701 2743 E-mail media@lenzing.com Web www.lenzing.com

About the Lenzing Group

The Lenzing Group stands for eco-responsible production of specialty fibers based on cellulose and recycled material. As an innovation leader, Lenzing is a partner of global textile and nonwoven manufacturers and drives many new technological developments. The Lenzing Group’s high-quality fibers form the basis for a variety of textile applications ranging from functional, comfortable and fashionable clothing to durable and sustainable home textiles. Due to their special properties and their botanical origin, the TÜV certified biodegradable and compostable Lenzing fibers are also highly suitable for everyday hygiene products.

The business model of the Lenzing Group goes far beyond that of a traditional fiber producer. Together with its customers and partners, Lenzing develops innovative products along the value chain, creating added value for consumers. The Lenzing Group strives for the efficient utilization and processing of all raw materials and offers solutions to help transform the textile industry from the current linear economic system towards a circular economy. In order to reduce the speed of global warming and thus also support the targets of the Paris Agreement and the EU Commission’s “Green Deal”, Lenzing has developed a clear science-based climate action plan that aims to significantly reduce greenhouse gas emissions by 2030 and a net-zero goal (scope 1, 2 and 3) by 2050.

Key Facts & Figures Lenzing Group 2023

Revenue: EUR 2.52 bn

Nominal capacity: 1,110,000 tonnes

Employees (FTE): 7,917

TENCEL™, LENZING™ ECOVERO™, VEOCEL™, LENZING™ and REFIBRA™ are trademarks of Lenzing AG.

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21.08.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com

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Language:	English
Company:	Lenzing AG
	4860 Lenzing
	Austria
Phone:	+43 7672-701-0
Fax:	+43 7672-96301
E-mail:	office@lenzing.com
Internet:	www.lenzing.com
ISIN:	AT0000644505
Indices:	ATX
Listed:	Vienna Stock Exchange (Official Market)
EQS News ID:	1972575

End of News	EQS News Service