Weninger will continue to serve as a consultant for Lenzing

Weninger will continue to serve as a consultant for Lenzing

Friedrich Weninger, the chief operating officer of Austrian cellulosic fibre producer Lenzing Group has announced his intention to step down.

Weninger, who has spent more then 25 years with the company, says he will not extend his contract when it expires on 31 December. He will, however, continue to serve as a consultant for Lenzing in the coming years.

From the start of 2015, his role will be carried out by the remaining management board members Peter Untersperger (CEO), Robert van de Kerkhof (CCO) and Thomas Riegler (CFO).

Last month, Lenzing said a cost reduction programme initiated last year was only partly able to offset a decline in sales and earnings in its first-half. The company said business development was impacted by the ongoing difficult market conditions featuring considerably lower average fibre selling prices.