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The nomination of Rohit Aggarwal to the management board of Lenzing has been announced by the supervisory board of the company a few weeks after the Brazilian cellulose producer Suzano entered its capital. He will assume leadership of the fibres business in the third quarter and, at the latest, in March 2025, follow Stephan Sielaff as CEO upon his departure.
Midway through June, Suzano, a São Paulo-based company, stated that it had reached an agreement with B&C Group, the company’s major shareholder, to acquire a 15% stake in Lenzing. Suzano also announced its plan to buy more stock in the business. Their objective is to “continue the development of the Austrian fibre specialist to achieve increased revenue and profits and further improve international competitiveness.”
Additionally, Kit Ping Au-Yeung has been appointed as Executive Vice President, Textile Business by Lenzing. Florian Heubrandner, her predecessor, has been named Executive Vice President responsible for filaments.
Kit Ping Au-Yeung, who has decades of experience in the field, assumes her new position. She has held positions in operational and commercial management at the Coats Group on a national and international scale. She was employed with the Amann Group in the past.
The plan for Lenzing’s textile offering’s development and extension will now fall under the purview of the new manager. This includes commercial brands like Ecovero and Tencel.
“Kit Ping’s vision is perfectly in line with Lenzing’s commitment to enable the production of fibres with a lower impact on the environment,” says CEO Stephan Sielaff.
In the 2023 fiscal year, the Austrian group achieved a revenue of € 2.5 billion, a slight decline from the previous year. EBITDA increased from € 241 to € 303 million.