EQS-News: Lenzing AG: Stephan Sielaff appointed as new CEO of Lenzing AG – changes in the Managing Board and the Supervisory Board

EQS-News: Lenzing AG / Key word(s): Personnel
Lenzing AG: Stephan Sielaff appointed as new CEO of Lenzing AG – changes
in the Managing Board and the Supervisory Board

09.03.2022 / 17:15
The issuer is solely responsible for the content of this announcement.

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• Stephan Sielaff replaces interim CEO Cord Prinzhorn
• CFO Thomas Obendrauf will not extend his contract
• Chairman of the Supervisory Board Peter Edelmann will no longer be
available as Chairman at the end of the Annual Shareholders‘ Meeting
• Cord Prinzhorn returns to Supervisory Board and will take over as
Chairman

Lenzing – The Supervisory Board of Lenzing AG, the world’s leading
manufacturer of wood-based cellulosic fibers, has appointed Stephan
Sielaff, the former CTO/COO of Lenzing AG, as the new CEO effective April
01, 2022. He succeeds Cord Prinzhorn, who took over as interim CEO in the
fourth quarter of 2021. Cord Prinzhorn will return to the Supervisory
Board of Lenzing AG. The Managing Board will thus be reduced again from
five to four members.

Stephan Sielaff holds a degree in chemical engineering and held various
management positions at Unilever and Symrise from 1993 to 2014. Between
2014 and 2020, he was responsible for the strategic development of the
company as a Member of the Board of Directors (COO) at the Swiss specialty
chemicals company Archroma – an important supplier of the textile and
paper industry. He was appointed Chief Technology Officer and COO of
Lenzing AG as of March 01, 2020.

„Stephan Sielaff took up his duties at the beginning of the Corona crisis
and has shown outstanding efficiency over the two years. His strong
presence and leadership qualities convinced the Supervisory Board to offer
him the role of future CEO. We are very pleased that he has accepted the
offer and that with him someone from within the company will continue to
shape the future of Lenzing,“ comments Peter Edelmann, Chairman of the
Supervisory Board.

There will be another change on the Managing Board. CFO Thomas Obendrauf
has informed the Supervisory Board that he will not be available for a
further extension of his contract, which expires in June 2022. The
Supervisory Board of Lenzing AG is already working on a timely
replacement. Mr. Obendrauf will be available to the company in an advisory
capacity until a successor is appointed.

Peter Edelmann: „Thomas Obendrauf has fulfilled the role of CFO
excellently and prudently since 2016. Together with his colleagues on the
Managing Board, he has consistently pursued the sCore TEN strategy and
successfully implemented it despite considerable pandemic-related
distortions. He was also responsible on the Board for the construction of
the new lyocell plant in Thailand. We regret that he will not renew his
contract, thank him for the always trustful and professional cooperation
and wish him all the best for his future path.“

Thomas Obendrauf says: „After six years, I have decided with a heavy heart
to leave Lenzing to pursue my desire for a career change. I thank Lenzing
for the enriching time and the great experiences.“

Peter Edelmann will leave the Supervisory Board upon his own request,
effective April 26, 2022. Cord Prinzhorn will return to the Supervisory
Board and will take over as Chairman. Mr. Edelmann has served as a member
of the Supervisory Board since 2018 and as Chairman since 2019, as well as
sitting on all Lenzing AG committees. In these four years, he has
accompanied the strategic transformation of the firm on its path to
becoming a sustainable specialty fiber company, thereby securing the basis
for profitable future growth. During this time, Lenzing has launched and
successfully implemented the two largest CAPEX projects in its history,
despite COVID-19.

Peter Edelmann: „I am extremely grateful and proud to have been with
Lenzing in this decisive strategic transformation phase. It was a very
intensive and truly fulfilling mission! I would like to thank my
colleagues on the Supervisory Board, the Management Board and the
management and staff of Lenzing for the highly effective and enriching
collaboration. The time has now come for me to take on a new challenge
that offers a similarly high level of creative ambition as that at
Lenzing. This wonderful company will always have a special place in my
heart.“

Photo download:
[1]https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=DimsFGGF1MwF
PIN: DimsFGGF1MwF

 

Your contact for Investor Relations:
Public Relations:
Sébastien Knus
Dominic Köfner Vice President Capital Markets
Vice President Corporate Communications & Lenzing Aktiengesellschaft
Public Affairs Werkstraße 2, 4860 Lenzing,
Lenzing Aktiengesellschaft Austria
Werkstraße 2, 4860 Lenzing, Austria
Phone +43 7672 701 3599
Phone +43 7672 701 2743 E-mail [4]s.knus@lenzing.com
E-mail [2]media@lenzing.com Web [5]www.lenzing.com
Web [3]www.lenzing.com

 

About the Lenzing Group

The Lenzing Group stands for ecologically responsible production of
specialty fibers made from the renewable raw material wood. As an
innovation leader, Lenzing is a partner of global textile and nonwoven
manufacturers and drives many new technological developments.

The Lenzing Group’s high-quality fibers form the basis for a variety of
textile applications ranging from elegant ladies clothing to versatile
denims and high-performance sports clothing. Due to their consistent high
quality, their biodegradability and compostability Lenzing fibers are also
highly suitable for hygiene products and agricultural applications.

The business model of the Lenzing Group goes far beyond that of a
traditional fiber producer. Together with its customers and partners,
Lenzing develops innovative products along the value chain, creating added
value for consumers. The Lenzing Group strives for the efficient
utilization and processing of all raw materials and offers solutions to
help redirect the textile sector towards a closed-loop economy. In order
to reduce the speed of global warming and to accomplish the targets of the
Paris Climate Agreement and the „Green Deal“ of the EU Commission, Lenzing
has a clear vision: namely to make a zero-carbon future come true.

Key Facts & Figures Lenzing Group 2020
Revenue: EUR 1.63 bn
Nameplate capacity: 1,045,000 tons
Employees: 7,358

TENCEL(TM), VEOCEL(TM), LENZING(TM), REFIBRA(TM), ECOVERO(TM), LENZING
MODAL(TM), LENZING VISCOSE(TM), MICROMODAL(TM) and PROMODAL(TM) are
trademarks of Lenzing AG.

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09.03.2022 This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1298795

 
End of News EQS News Service

1298795  09.03.2022 

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