Ahead of the Annual General Meeting of listed company Lenzing AG to be held on April 17, 2025, the Nomination Committee has revised the future composition of the Supervisory Board. Cord Prinzhorn, the current supervisory board chairman, is stepping down from the Supervisory Board with the end of his mandate, to focus on his existing and new engagements within B&C Group going forward.

Patrick Lackenbucher, managing director of B&C Group, has been nominated for election as a new member of the Supervisory Board and is designated to take over the role of chairman of the Supervisory Board on an interim basis. Lackenbucher can draw on extensive experience with Lenzing, having supported the company throughout various key strategic and financial projects over the past 15 years.

Prinzhorn comments: “After four years on the Supervisory Board of Lenzing AG, my current mandate is coming to an end, and I will now concentrate on other existing and new engagements going forward. During my time as supervisory board chairman, we have managed to successfully complete important strategic investment projects in Brazil, Thailand and China, to reduce costs as well as financial debt, and at the same time to expand Lenzing’s position in this challenging market environment. I would like to thank not only the members of the Supervisory Board and the Managing Board but also, and above all, the employees of Lenzing, who have made a significant contribution to the success of these strategic projects.”

Lackenbucher sees the company well positioned for the future: “Both long-term core shareholders, B&C and Suzano, have a strong commitment to the enhancement of Lenzing’s competitiveness as a global market leader in sustainable cellulosic fibers. The company is addressing the continued competitive market environment with a holistic set of measures, that are already yielding positive results and will be pursued further consequently. Profitability is vital for Lenzing to sustain in the face of global competition over the long term and to further invest in new products and markets. I am looking forward to working together collaboratively with the entire Lenzing Managing Board and Supervisory Board.”

Rohit Aggarwal, CEO of Lenzing AG, comments: “Cord Prinzhorn has accompanied Lenzing with great confidence through the difficult environment over the past years and has played a key role in initiating revenue and cost initiatives, which have shown first positive effects in recent quarters leading to revenue, margin, and cash flow enhancement for the company. On behalf of the entire Managing Board, I would like to thank him for the excellent collaboration, and I look forward to our future collaboration with the designated chairman Patrick Lackenbucher, who brings many years of experience and extensive knowledge with Lenzing to the table.”

Besides Lackenbucher, Leonardo Grimaldi is proposed to be newly elected to the Supervisory Board. Grimaldi is executive vice president and Management Board member of Lenzing’s core shareholder Suzano S/A and will assume the Supervisory Board mandate from Marcelo Bacci, who has left Suzano. He is an expert in the global pulp market and, among others, also acts as supervisory board chairman at Brazilian port operator Portocel as well as a supervisory board member at Veracel Celulose S/A.

Prinzhorn will remain upervisory board chairman until the conclusion of the 81st Annual General Meeting on April 17, 2025. The election of Lackenbucher as upervisory board chairman is planned for the constituting Supervisory Board meeting on the same day directly after the Annual General Meeting.