[Lenzing AG] Notice of changes to Lenzing AG’s Board of Directors *Lenzing AG*
Press release: August 29, 2024
**
Notice of changes to the Board of Directors of Lenzing AG
(Left: Rohit Agarwal, Right: Stephen Sielaff)
⬤ Rohit Agarwal becomes CEO of Lenzing AG with effect from September 1, 2024 ⬤ Stefan Sielaff will retire at the end of August 2024
Lenzing –
Lenzing Group, a leading supplier of regenerated cellulose fibers to the textile and nonwovens industry, will change the composition of its board of directors. With effect from September 1, 2024, Rohit Agarwal Aggarwal will join the board of directors as CEO. The company’s current CEO, Stephan Sielaff,
Sielaff will retire from Lenzing at the end of August 2024 by mutual agreement with the Supervisory Board.
New CEO Rohit Agarwal is a strategic business economist and global industry leader with decades of experience in the textile and chemical industries. Rohit Agarwal’s global management positions in Europe, the US, and Asia have given him a precise understanding of strategic developments in international markets and the establishment of effective management teams. With extensive experience in the global textile, nonwoven and textile markets, he is familiar with all aspects of Lenzing’s core businesses, both in terms of content and geography.
Cord Prinzhorn, Chairman of the Supervisory Board of Lenzing, said: “This summer, I made a highly professional and smooth transition from Stefan Sielaff to my successor. Stefan led us on a path of strong improvement during a period of multiple challenges for our company. In Rohit Agarwal, we have found the right person to manage the huge task ahead.”
Stefan Sielaff said: “Today, in what remains a very challenging market environment, Lenzing has moved forward as a result of the tremendous efforts of all our teams around the world. I would like to express my deepest gratitude to everyone who has accompanied me through my process at Lenzing. I am confident that we have laid the foundation for a great future for Lenzing.”
Rohit Agarwal said: “I would like to thank Stefan Sielaff for his gracious handover and look forward to working closely with the Lenzing team in the future. Together with the entire Board of Directors and our colleagues at Lenzing, we are working towards a successful future as a key player in the sustainable textile industry. However, we must not forget that market conditions remain difficult, and we must continue to focus our efforts on the revitalization of Lenzing.”
* About Lenzing Group *
The Lenzing Group is committed to the production of ecologically sensitive specialty fibers made from cellulose and recycled raw materials. As a leader in technological innovation, we partner with textile and nonwoven fabric manufacturers around the world and drive the development of numerous new technologies.
Lenzing Group’s high-quality fibers are the raw material for a wide range of textile applications, from functional, comfortable and fashionable clothing to durable and sustainable home textiles. TUV-certified, biodegradable and compostable, Lenzing fibers are also ideal for everyday hygiene applications due to their special properties and plant origin.
Our business model goes far beyond the framework of traditional textile manufacturers. Together with our customers and partners, we develop innovative products along the value chain and create added value for consumers. The Lenzing Group strives for efficiency in the use and processing of all raw materials and provides solutions that help the textile industry move from the current linear economic system to a circular economy. To slow the rate of global warming and also support the goals of the Paris Agreement and the EU Commission’s Green Deal, Lenzing has developed a clear, science-based climate change action plan to reduce greenhouse gas emissions by 2030. We aim to significantly reduce gas emissions and achieve net zero targets (Scope 1, 2 and 3) by 2050.
* Lenzing Group Corporate Data 2023 *
Sales: 2.52 billion euros
Nominal production (textile): 1,110,000 tons
Number of employees (full-time equivalent): 7,917 people
TENCEL(TM), LENZING(TM)
ECOVERO(TM), VEOCEL(TM), LENZING(TM), REFIBRA(TM) are trademarks of Lenzing AG.