PRESS RELEASE: Lenzing AG / CEO Stefan Doboczky will not extend contract and will step down at end of third quarter 2021

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Contract ends by mutual agreement. Supervisory Board Chairman Edelmann thanks
CEO for exceptional achievements.

Personnel/Company Information

Lenzing - The Supervisory Board of Lenzing AG, the world's leading producer of
wood-based cellulosic fibers, has come to a mutual agreement with its
longstanding Chief Executive Officer Stefan Doboczky to end his contract.
Doboczky has informed the Supervisory Board that he will not be available for
another extension of his contract. With great regret the Supervisory Board of
Lenzing AG accepts his resignation and the parties 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

"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", said Edelmann.

Stefan Doboczky: "Developing and consistently implementing the Lenzing strategy
has been the cornerstone of my work in recent years. 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 AG 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.

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Further inquiry note:
Dominic Köfner
Vice President Corporate Communications & Public Affairs
Lenzing AG
Phone: +43 7672 701 2743

end of announcement euro adhoc

(END) Dow Jones Newswires

September 07, 2021 12:03 ET (16:03 GMT)
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