The Development of Business in the Divisions
The management of the Lenzing Group’s business is divided into the two divisions “Fiber” and “Pulp”.
In 2024, the “Better Growth” corporate strategy was advanced. The strategy is aimed at better serving long-term demand growth for high-quality and sustainably manufactured specialty fibers of the TENCEL™, LENZING™ ECOVERO™, and VEOCEL™ brands, among other objectives. Following the implementation of the large-scale projects in Brazil and Thailand as well as the modernization of capacities in China and Indonesia, Lenzing will pursue a profitable growth path, sharpen its focus on premium fibers for textiles and nonwovens and, at the same time, further accelerate the transition to a circular economy model.
Lenzing also updated its climate targets in 2024 in order to align its commitment to climate change mitigation with the goals of the Paris Agreement on climate, which aims to limit the global increase in temperatures to 1.5 degrees Celsius. The Science Based Targets initiative (SBTi), the leading organization in the area of climate-related target setting, reviewed and confirmed the target increase. Lenzing is the only producer of regenerated cellulosic fibers with a scientifically confirmed net zero target (see also the chapter “E1 Climate change” in the non-financial statement of the Annual and Sustainability Report).
Lenzing has once again been recognized by the industry’s most important rating providers for its performance and leadership in environmental and social sustainability. CDP again placed Lenzing on the prestigious A-list in the “Climate Change” category in 2024, the fourth time in a row. In the “Forests” and “Water Security” categories, Lenzing achieved very good “A-” and “B” ratings respectively. In the EcoVadis CSR rating, Lenzing achieved platinum status, the highest rating, for the fourth consecutive time, placing it among the top one percent of companies rated worldwide. MSCI rated Lenzing with an “A”, and the company achieved first place in the global “Hot Button Ranking” of the non-profit organization Canopy, which evaluates the performance of global producers of regenerated cellulosic fibers in the areas of sustainable sourcing, transparency, and innovation. More information about ratings and awards relating to environmental and social sustainability can be found in the non-financial statement in the Annual and Sustainability Report.
Lenzing also announced personnel changes on its Managing Board in 2024. As of September 1, Rohit Aggarwal assumed the position of Managing Board Chairman (CEO) from Stephan Sielaff, who left Lenzing AG by mutual agreement with the Supervisory Board at the end of August. Walter Bickel was appointed Chief Transformation Officer and member of the Managing Board of Lenzing AG until December 31, 2025, with effect as of April 15.