Incoming CEO Rohit Aggarwal is a strategic business economist and global leader in the industry, has several decades of experience in leading positions in the textile and chemical industry. Rohit Aggarwal has a sound understanding of the strategic development of international markets and the establishment of efficient management teams through global management positions in Europe, the USA and Asia. Thanks to his broad experience in the global textile, non-woven and fiber markets, he is well versed with Lenzing's core business in all its facets, both in terms of content and geography.

Lenzing supervisory board chairman Cord Prinzhorn: "This summer, we have managed a highly professional and smooth transition from Stephan Sielaff to his successor. I would like to thank Stephan for his achievements in paving a path of strong improvements during a period of multiple challenges for the company. With Rohit Aggarwal, we have found the right person to manage the ambitious tasks that still lie ahead."

Stephan Sielaff: "Today we see a better Lenzing as a result of the massive efforts of the whole team worldwide in a still highly challenging market environment. I would like to express my greatest respect for all those who accompanied me on my journey in Lenzing – I am convinced that we have laid the foundation for an outstanding future for Lenzing."

Rohit Aggarwal: "I would like to thank Stephan Sielaff for the careful handover and look forward to working very closely with the Lenzing team in the future. Together with the entire management board and all Lenzing colleagues we will guide the company towards a successful future as a leading player in the sustainable textile industry. However, we must not forget that the markets remain challenging, and we must continue to put all our efforts into the turnaround of Lenzing."

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)