Doboczky steps down as Lenzing CEO

LENZING – The Supervisory Board of Lenzing AG has come to a mutual agreement with its longstanding chief executive officer Stefan Doboczky (pictured) to end his contract. Doboczky has informed the Supervisory Board that he will not be available for another extension of his contract.

Lenzing's board said it accepted his resignation with great regret and the parties have mutually agreed to end the contract effective September 30, 2021.

“My sincere thanks go to Stefan Doboczky for his exceptional achievements at Lenzing. The design and implementation of the transformation of Lenzing AG into a global specialty fiber leader and the positioning of the company as a recognized sustainability champion have been major accomplishments of Stefan Doboczky over the last years,” said chairman of the Supervisory Board, Peter Edelmann. “Thanks to his leadership, Lenzing AG finds itself today on a stable and profitable growth track with a clear commitment to become climate-neutral by 2050. And all of that in spite of the challenging environment of the COVID-19 pandemic.”

“Developing and consistently implementing the Lenzing strategy has been the cornerstone of my work in recent years," Doboczky added. "After extensive consideration, I have decided that this is the right time for a personal change. The strategy is in place, the company is well on track – now is the ideal moment to pass on the baton. And one thing is certain: Lenzing will always have a very special place in my heart.”

Lenzing said it remains on track with its guidance for the full year 2021 as announced with the half-year results. Cord Prinzhorn has been appointed interim CEO. Prinzhorn is Member of the Supervisory Board of Lenzing AG and will be available until a successor is found. The Supervisory Board will immediately start the search process.