Leading provider of regenerated cellulose fibres, Lenzing Group has announced the departure of Walter Bickel, the chief transformation officer (CTO).
Bickel joined Lenzing on 15th April 2024, and was tasked with accelerating the company’s performance program. The company saw positive results with them surpassing their anticipated performance objectives and establishing a strong base for future enhancements under his leadership.
Chairperson of Lenzing’s supervisory board, Cord Prinzhorn recognised and addressed Bickel and his team making significant contributions in improving the results of the company and its financial results.
Chief Executive Officer of the Lenzing Group, Rohit Aggarwal, also emphasised on the CTO’s performance and affirmed that the performance program will be continued with unwavering dedication to ensure Lenzing’s position as a leading integrated fibre group and industry innovator. In 2024, Lenzing reported a 5.7 per cent rise in revenue and a 30.4 per cent rise in EBITDA compared to 2023. Furthermore, free cash flow improved to US $ 180 million, a significant turnaround from the negative US $ 132.53 million recorded in the previous year.
Lenzing is also targeting annual cost savings exceeding US $ 194 million starting from 2025.
