The Nomination Committee of the Supervisory Board of Lenzing AG has recommended to the Supervisory Board, at its next meeting on December 10, to appoint Thomas Obendrauf as the company’s CFO for three years beginning March 1, 2016.

Obendrauf studied commercial science at the Vienna University of Economics and Business and at the Chicago University, where he acquired an MBA. He also qualified as a tax consultant in Austria and as a Certified Public Accountant in the U.S.

Obendrauf, who is currently the CFO of car dealership Wiesenthal Autohandels AG, had previously worked for 12 years as CFO and in other management positions with circuit board manufacturer AT&S AG. On top of his outstanding financial know-how, he gained comprehensive expertise in innovation management in the U.S. As a proven expert on Asia, Obendrauf also brings to his new job many years of operative management experience in developing and optimizing lasting business relations in the Far East.

Hanno Bästlein, chairman of the Nomination Committee of the Supervisory Board of Lenzing AG, says about the intended appointment of the new CFO: “With Thomas Obendrauf we managed to attract to Lenzing AG a recognized top manager. The whole Lenzing Group can benefit, for our future strategic focus, from his comprehensive expertise and his many years of international experience.”

Regarding his planned move to the Management Board of Lenzing AG, Obendrauf says: “Lenzing AG has successfully completed a difficult restructuring process and will now be able to grow again with innovative products in the market. Due to the strong ties with Asia, the global fiber market is still highly dynamic. Getting the chance to work as CFO for such a respected, innovative company as Lenzing AG is therefore a highly responsible and challenging assignment.”

The current CFO of Lenzing AG, Thomas Riegler, informed the Supervisory Board that he will terminate his contract ahead of schedule by the end of 2015, with the restructuring process, to which he significantly contributed as a finance and restructuring expert, successfully completed. Riegler wants to spend more time on his own interim management and consulting company. 

From March 1, 2016, the Management Board of Lenzing AG will therefore consist of: Stefan Doboczky (CEO), Robert van de Kerkhof (CCO), and Thomas Obendrauf (CFO).