Austrian fibre producer Lenzing has appointed Milena Ioveva as Vice President overseeing Corporate Communications, Sustainability, Investor Relations and Public Affairs.
Ioveva brings extensive experience from the construction sector, having most recently served as Director of Communications and Strategy at the Porr Group. She also previously led investor relations for Vienna-based construction firm UBM.
Lenzing CEO Rohit Aggarwal said that as the company continues its international expansion, effective communication with stakeholders will be critical. He noted that Ioveva’s proven ability to deliver value during periods of transformation, combined with her expertise in capital markets and strategic positioning, would play a vital role in achieving the company’s growth ambitions.
In 2024, Lenzing returned to growth, reporting a 5.7% rise in sales to US $ 2.89 billion and net income of US $ 644 million. The company, known for its wood-based cellulose fibres, underwent significant structural changes last year after Brazilian conglomerate Suzano acquired a 15% stake, a move that also brought in new leadership at the top.
Globally, cellulose fibres account for around 5% of total fibre production, well behind polyester at 57% and cotton at 20%. Lenzing is aiming to expand its role in the market by positioning its sustainable wood-derived alternatives as a solution to the growing constraints of cotton farming and the environmental challenges linked to synthetics and untreated natural fibres.
