Lenzing Group will have a new CEO by March 2025.

Rohit Aggarwal, currently CEO of Archroma, will take over the top post at Lenzing. He will join the Vienna-based cellulosic fibers supplier in the third quarter of 2024 as chief fiber officer and member of the management board, and as designated CEO. Lenzing said on its corporate site that current CEO Stephan Sielaff won’t be renewing his contract by “mutual agreement” with the company’s board. Sielaff’s employment contract expires at the end of March.

More from Sourcing Journal

• How Lenzing Japan Uses Super Zero on Tencel for Super Soft Jeans

• Lenzing's Mission to Safeguard TENCEL?'s Trademark and Long History

• Iconic Innovation: High Fashion Meets Eco-Consciousness

Lenzing said Aggarwal is a strategic business economist and global leader in the industry. The company noted that his decades of experience in leading positions in the textile and chemical sectors gives him an understanding of the strategic development of international markets and the efficient establishment of efficient management teams across Europe, the U.S.A. and Asia.

“First and foremost, I would like to thank Stephan Sielaff, who steered the company through an extraordinarily challenging phase, marked by multiple crises, with a steady and tireless hand,” Lenzing’s chairman Cord Prinzhorn said in a statement. “With Rohit Aggarwal, we have gained an international leader with profound knowledge of the textile markets, from raw materials to the processing of environmentally friendly fibers.”

“I am very much looking forward to the new role and the opportunity to strengthen Lenzing as a leading player in the sustainable fiber industry in the coming years,” Aggarwal said. “Building on the strong foundation already in place, it is my privilege to be working alongside the team at Lenzing to further expand the business and grow its iconic brands to their full potential

Outgoing chief Sielaff described that last few years as “very eventful ” and “characterized by incredible energy and change at Lenzing.” He said the “massive efforts and the resulting developments are just beginning to pay back,” adding that the company has “laid the foundation for an outstanding future for Lenzing.”

Earlier this month, Suzano S/A took a 15 percent stake, about $249 million or 230 million euros, in Lenzing. The Brazilian pulp producer acquired its stake from B&C Group, Lenzing’s current majority stakeholder. In addition, the S?o Paulo-based and B&C will form a long-term partnership as majority stakeholders holding a combined 52.25 percent stake in Lenzing. B&C will remain the controlling member holding at 37.25 percent stake, and Suzano owning the balance.