Lenzing, Austria – April 1, 2025 – The Lenzing Group, a global leader in sustainably produced specialty fibers based on regenerated cellulose, announces that Dr. Walter Bickel, Chief Transformation Officer, will be retiring from his operational role at the end of March 2025. This decision follows a mutual agreement between Dr. Bickel and the Supervisory Board of Lenzing AG.
Appointed to the Managing Board on April 15, 2024, Dr. Bickel played a key role in advancing Lenzing’s strategic transformation. Under his leadership, the company’s performance program not only met but significantly exceeded expectations, establishing a strong foundation for continued success.
“Walter Bickel and his team have made a remarkable contribution to the Lenzing Group’s improved results. We extend our sincere gratitude for his dedicated service and wish him the very best for the future,” said Cord Prinzhorn, Chairman of the Supervisory Board.
“Through disciplined execution of our performance program, now well ahead of plan, we’ve significantly enhanced Lenzing’s resilience and efficiency. We are committed to continuing this momentum,” added Rohit Aggarwal, CEO of Lenzing Group.
Reflecting on his time at Lenzing, Dr. Bickel stated:
“I am proud of what we’ve achieved together. The progress made and the sustainable foundation established will benefit Lenzing well into the future. I thank the Managing Board and the entire team for the successful collaboration.”
The performance program, aimed at improving EBITDA and boosting free cash flow through enhanced profitability and cost excellence, has already delivered notable results:
- Revenue grew by 5.7% in 2024 compared to 2023.
- EBITDA increased by 30.4% over the same period.
- Free cash flow improved from a deficit of EUR 122.8 million in 2023 to EUR 167.0 million in 2024.
- Cost savings exceeding EUR 130 million were achieved in 2024, with annualized savings of over EUR 180 million targeted from 2025 onward.
These achievements reinforce Lenzing’s commitment to remain the world’s leading integrated fiber group and a pioneer in sustainable innovation.