The Lenzing Group, a global leader in regenerated cellulose fibers, has announced that Dr. Walter Bickel, Chief Transformation Officer and member of the Managing Board, will step down at the end of March 2025. His departure follows a mutual agreement with the company’s Supervisory Board, concluding his temporary appointment that began in April 2024.
Dr. Bickel played a crucial role in accelerating Lenzing’s performance program, delivering results well above expectations. Under his guidance, the company implemented structural changes that significantly improved profitability, resilience, and adaptability.
Cord Prinzhorn, Chairman of the Supervisory Board, expressed appreciation for Dr. Bickel’s impactful contributions. CEO Rohit Aggarwal emphasized that the successful program will continue with the same rigor to reinforce Lenzing’s leadership and innovation in the fiber industry.
Dr. Bickel reflected positively on his tenure, noting the sustainable impact of the initiatives developed during his time at Lenzing.
The performance program aims to enhance long-term financial health by increasing EBITDA, boosting free cash flow, and reducing costs. Results have been impressive, with a 5.7% rise in revenue, a 30.4% jump in EBITDA, and a dramatic improvement in free cash flow from a loss in 2023 to EUR 167 million in 2024. Lenzing expects annual cost savings to exceed EUR 180 million starting in 2025.
