Austrian cellulosic fibre producer Lenzing has named Thomas Obendrauf as its recommended finance chief to replace the departing Thomas Riegler.

Obendrauf is expected to join the firm on a three-year contract from 1 March, pending approval from the company's supervisory board on 10 December. Currently CFO of car dealership Wiesenthal Autohandels AG, he will replace Riegler who has decided to step down ahead of schedule in order to "spend more time on his own interim management and consulting company". 

In addition to his finance experience, Obendrauf has gained comprehensive expertise in innovation management in the US. As a proven expert on Asia, he will also bring a number of years of operative management experience in developing and optimising lasting business relations in the Far East.

Hanno Bästlein, chairman of the nomination committee of the supervisory board of Lenzing, said of the intended appointment: "With Thomas Obendrauf we managed to attract to Lenzing a recognised top manager. The whole Lenzing Group can benefit, for our future strategic focus, from his comprehensive expertise and his many years of international experience."

Last month, Lenzing saw its profit nearly double during the first nine months of the year, and expects a "significant" improvement in annual earnings. 

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