In mid-June, it was announced that Lenzing would have a new minority shareholder in the form of the Brazilian pulp group Suzano, which could replace B&C Holding as the largest shareholder in the medium term. Shortly afterwards, the Singaporean-Indian manager Rohit Aggarwal was designated as the new CEO. It was announced that Aggarwal would join Lenzing in the third quarter and replace the current CEO Stephan Sielaff by spring 2025 at the latest. It has now been announced that Sielaff will leave the company at the end of August and that 56-year-old Aggarwal will take over the management of the company on September 1st.
“In the summer, we managed a highly professional and smooth transition from Stephan Sielaff to his successor. I would like to thank Stephan Sielaff for his achievements, with which he paved a path of significant improvements for the company at a time of diverse challenges. In Rohit Aggarwal, we have now found the right person to master the demanding tasks that still lie ahead of us,” says Supervisory Board Chairman Cord Prinzhorn, who himself managed the business at Lenzing AG on an interim basis before Sielaff.
Aggarwal has extensive experience in the global textile, nonwoven and fiber market and has held management positions on three continents. He is looking forward to the new task, but also points to the ongoing difficult global textile market. “We must continue to put all our efforts into the turnaround of Lenzing.”
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