Walter Bickel leaves Lenzing.
The Chief Transformation Officer of Lenzing AG and the supervisory board of the Austrian fiber manufacturer ended the time temporary mandate from Bickel prematurely, the company said on Tuesday. The decision that Bickel will leave his operational activity at the end of March 2025 was made by mutual agreement.
Bickel was appointed CTO last April and thus also the board member of Lenzing AG. The task of strengthening the company’s board and the further development and implementation of the performance program was responsible for him.
Since then he has managed to clearly exceed the goals of the performance program. Due to the consistent implementation, the company was improved in many areas and its crisis resilience was sustainably strengthened.
The performance program of the Lenzing Group aims at higher resistance, sustainable cost savings and increased profitability. In 2024, over 130 million euros were already saved, the Free Cashflow achieved 167.0 million euros. In addition, sales increased significantly, and the group was able to increase its turnover by 5.7 percent in the past 2024 financial year to EUR 2.66 billion. However, the result after taxes remained negative – among other things due to a one -off special effects – and was 138.3 million euros. In 2023, however, the minus was still 593 million euros. From 2025, annual savings of over 180 million euros are to be realized.
“Walter Bickel and his team took over the performance program a year ago and have made a significant contribution to improving the results of the Lenzing Group since then. We would like to thank Walter Bickel for his further way for his further way,” says Cord Prinzhorn, chairman of the Lenzing AG supervisory board.
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