The Supervisory Board of Lenzing AG, has appointed Nico Reiner as its new Chief Financial Officer. Mr. Reiner will join Lenzing's Managing Board led by Chief Executive Officer Stephan Sielaff on January 1, 2023. He will succeed Chief Financial Officer Thomas Obendrauf, who is leaving the company of his own volition after seven years. Nico Reiner has held several positions in his professional career to date, including CFO at globally operating companies such as Schüco Group, AL-KO Group and Pfleiderer Group, as well as management consultant roles. His most recent appointment was as CFO of Vacuumschmelze GmbH & Co. KG, a global player with headquarters in Hanau that specializes in the development, production and marketing of magnetic materials. Born in Grünwald near Munich, Mr. Reiner graduated from the University of Regensburg with a degree in business administration and has a doctorate from HHL Leipzig Graduate School of Management. Chief Financial Officer Thomas Obendrauf notified the Supervisory Board in March that he would not be extending his contract when it came to an end in
June 2022 as after seven years at Lenzing, he is leaving to pursue a career change. Until Mr. Reiner joins the company, Stephan Sielaff will continue to assume the role of CFO on an interim basis, with Mr. Obendrauf supporting the company in an advisory capacity.