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News Article | February 23, 2017

Management change in William Demant Holding A/S Søren Nielsen new President & CEO Niels B. Christiansen new Chairman of the Board President & CEO Niels Jacobsen has decided to step down after 25 years as member of the Executive Board in William Demant Holding to become CEO of William Demant Invest A/S. The present Chief Operating Officer (COO) Søren Nielsen will become new President & CEO of William Demant Holding. The management changes will take effect on 1 April 2017. Going forward, the Executive Board will consist of Søren Nielsen and CFO René Schneider backed by a management group consisting of Arne Boye Nielsen (Diagnostics), Niels Wagner (Retail) and Svend Thomsen (Finance). In addition, the Oticon Foundation will announce a number of other management and board changes in the William Demant Group. On the promotion of Søren Nielsen, the present Chairman of the Board of William Demant Holding, Lars Nørby Johansen, says: "With Søren Nielsen as President & CEO, the Company gets a strong leader who will safeguard William Demant Holding's continued competitiveness in a dynamic industry. He stands for both readiness to change and continuity and has the ability to carry on the strategy to ensure that the Company continues its growth. With his insight into the industry gained over the past many years, his ability to discover new ways and many commercial successes on his resume, Søren Nielsen is the right person to manage William Demant Holding, where he is already very well-respected as a leader." Søren Nielsen, who will also continue as President of the subsidiary Oticon, comments on his new role in William Demant Holding: "I'm proud and honoured to have been given the opportunity to be at the head of a fantastic company, which year after year delivers great results - not least in 2016. We are standing on a very strong platform, ready to take on the competition and be part of the fast development in our industry and together with our customers deliver the most innovative and well-functioning products to the end-users." Søren Nielsen takes over from Niels Jacobsen, who will assume the position as CEO of William Demant Invest, which is the company from which the Oticon Foundation's business activities arise. In addition, Niels Jacobsen has been nominated as member of the Board of William Demant Holding. The Board intends to elect him Deputy Chairman. In a comment on Niels Jacobsen's 25 years with the Company, Lars Nørby Johansen says: "With his business acumen, Niels Jacobsen has focused on each company in William Demant Holding being able to act optimally in the ongoing transformation of the Company, and results show that he has been very successful indeed." On the proposal of Niels B. Christiansen as new Chairman of the Board of William Demant Holding, Lars Nørby Johansen says: "In Niels B. Christiansen, the Company gets a Chairman who is rightly recognised for his business competencies. As an independent member of the Board, he brings an external and innovative perspective to the table, which will support the Company's future growth." Changes to the Board of Directors As a result of the above changes, Chairman of the Board in William Demant Holding, Lars Nørby Johansen, will not stand for re-election at the coming annual general meeting. Lars Nørby Johansen will, however, continue his work in the William Demant Group, as the board of the Oticon Foundation has nominated him for the position of chairman of the board of the Oticon Foundation, where he will succeed Niels Boserup, who wants to step down after more than 10 years as chairman of the Oticon Foundation. As a consequence of the changes mentioned above, the Board of Directors of William Demant Holding is after the annual general meeting on 27 March expected to elect the present Board member Niels B. Christiansen new Chairman and Niels Jacobsen new Deputy Chairman. The board of the Oticon Foundation supports these proposals. The other Board members, Peter Foss, Benedikte Leroy and Lars Rasmussen, all accept renomination and are expected to be re-elected. This company announcement is accompanied by a press release from the Oticon Foundation with detailed information on the coming changes to management and board. Please find below biographies and CVs for Søren Nielsen and Niels B. Christiansen. Biographies and CVs for Niels Jacobsen and Lars Nørby Johansen appear from the enclosed press release. Søren Nielsen will take another step up the corporate ladder when he becomes President & CEO of William Demant Holding. In 2015, he was appointed COO of William Demant Holding, and he has since 2008 been responsible for Oticon where he will continue as President. For the past eight years, Søren Nielsen has been overall responsible for the whole hearing aid business, and he has had a decisive say in important strategic decisions and acquisitions for the whole Group, most recently also as a member of the Executive Board since September 2015. Søren Nielsen will continue the William Demant Group's hearing healthcare strategy, which he also helped define: To grow in all areas of hearing healthcare, including hearing aids, hearing implants and diagnostics, and to exploit the Group's infrastructure and know-how with a view to developing the Group's position as market leader. In the Group, Søren Nielsen is regarded as a hard-working, energetic man, who knows both the customers and the employees well. He is seen as a very committed leader and an adept communicator. He is detail-oriented and knows what goes on both internally and externally. Søren Nielsen will continue to prioritise the development of the Group's culture and employees, while focusing on the customers and using technology and innovation as important tools for driving the business forward. Highly concerned with the exploitation of synergies across all business activities in William Demant Holding, Søren Nielsen uses every opportunity to emphasise the importance of the further development of the Group's global distribution and shared services. It is a man who knows the Group better than almost anybody else that will take the reins. The newly appointed President & CEO is 46 years old and has been with the Company for almost half his life. Already when Søren Nielsen studied to become a Master of Science in Engineering at the Technical University of Denmark, he used Oticon as a case in his thesis work, and right after his graduation, he was employed with the Company. That was back in 1995. In the coming years, he got to know the Group from all angles imaginable in William Demant Holding's subsidiaries all over the world, before he returned to the "mother ship" in Denmark where he became an important part of Oticon's management. Up through the 2000s, Søren Nielsen took part in ensuring a string of important commercial successes, including Oticon Delta that changed the way in which we design hearing aids. In 2016, he was behind the launch of the game changer Oticon Opn, which is an Internet-connected hearing aid that opens up the sound picture and enables the user to participate actively in complex listening situations. Søren Nielsen is married to Henriette, who is a doctor. The couple has three children. Born 1970 1995-2008     A number of management positions in Oticon in such areas as quality manager, development and sales 2008-              President, Oticon A/S 2015-              COO & Deputy CEO, William Demant Holding A/S Board member in Sennheiser Communications A/S Member of the Confederation of Danish Industry's committee on health policy Master of Science in Engineering, Technical University of Denmark (DTU) Niels B. Christiansen is one of Denmark's most recognised top executives. Since 2008, he has run Denmark's largest industrial company Danfoss, and he has done really well. Even though he took over the reins at a time when the world economy was in crisis, Niels B. Christiansen succeeded in steering the renowned company towards new growth. He grew up in a small town outside Aabenraa where he loved to tinker with mopeds and all kinds of technical devices, among these the computer he bought with his savings when he was in the ninth grade in 1981. Back then, an ordinary computer - with very limited capacity - cost the same as a small family car. The dream was however to become a fighter pilot, but with his height of 195 cm, Niels B. Christiansen was too tall. Instead, he became an engineer and graduated from the Technical University of Denmark with a grade point average of 12.2 according to the old grading scale where 13 was the highest grade. Having completed an MBA in France, where he was number one in his year group, the trained engineer began his professional career as a consultant with McKinsey & Co. Then he moved on to become head of corporate development with the power drill manufacturer Hilti in Switzerland, and at the age of 31, he became managing director of GN Netcom in 1997. In 2004, Niels B. Christiansen was "called home" to Southern Jutland by Danfoss where he did such a convincing job that Jørgen Mads Clausen appointed him his successor as President & CEO in 2008. All through his busy life as an executive, he has given high priority to spending time and travelling with his wife Lene, whom he met in high school, and their two now almost grown-up children. Born 1966 1991                Consultant, McKinsey & Co 1995                Vice President and head of corporate development, Hilti S.A. 1997                Vice President, GN Netcom A/S 2000                President & CEO, GN Netcom A/S 2003                Executive Vice President and CEO, GN Store Nord A/S 2004                Executive Vice President and CEO, Danfoss A/S 2004                Chief Operating Officer, Danfoss A/S 2007                Deputy CEO, Danfoss A/S 2008                President & CEO, Danfoss A/S Chairman of the board of Axcel Board member in A.P. Møller - Mærsk A/S Board member in William Demant Holding A/S Board member in Technical University of Denmark (DTU) 1991                Master of Science in Engineering, Technical University of Denmark (DTU) 1993                MBA, INSEAD in France

Hafenbrack A.C.,INSEAD | Kinias Z.,INSEAD | Barsade S.G.,University of Pennsylvania
Psychological Science | Year: 2014

In the research reported here, we investigated the debiasing effect of mindfulness meditation on the sunk-cost bias. We conducted four studies (one correlational and three experimental); the results suggest that increased mindfulness reduces the tendency to allow unrecoverable prior costs to influence current decisions. Study 1 served as an initial correlational demonstration of the positive relationship between trait mindfulness and resistance to the sunk-cost bias. Studies 2a and 2b were laboratory experiments examining the effect of a mindfulness-meditation induction on increased resistance to the sunk-cost bias. In Study 3, we examined the mediating mechanisms of temporal focus and negative affect, and we found that the sunk-cost bias was attenuated by drawing one's temporal focus away from the future and past and by reducing state negative affect, both of which were accomplished through mindfulness meditation. © The Author(s) 2013.

News Article | February 27, 2017

Wendel se réjouit de la création de ce nouvel indice qui permettra d'accroître la visibilité des entreprises familiales cotées témoignant ainsi de la pertinence de leur modèle et de leur attrait pour les investisseurs. Très attachée à ce modèle dont elle est issue, Wendel a toujours activement soutenu l'entrepreneuriat familial à la fois au travers de sa stratégie d'investissement dans ce type d'entreprise mais aussi avec son partenariat de long terme avec l'INSEAD depuis plus de vingt ans, qui a conduit à la mise en place du Centre International Wendel pour l'Entreprise Familiale. Devenu aujourd'hui l'un des pôles d'excellence mondiaux pour l'étude et la recherche sur les entreprises familiales, le Centre International Wendel pour l'Entreprise Familiale est une plateforme internationale favorisant l'échange de connaissances afin de soutenir au mieux les entreprises familiales et les différents acteurs fondamentalement liés à ces entreprises. Wendel est l'une des toutes premières sociétés d'investissement cotées en Europe. Elle investit en Europe, en Amérique du Nord et en Afrique, dans des sociétés leaders dans leur secteur : Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles et Allied Universal dans lesquelles elle joue un rôle actif d'actionnaire industriel. Elle met en oeuvre des stratégies de développement à long terme qui consistent à amplifier la croissance et la rentabilité de sociétés afin d'accroître leurs positions de leader. À travers Oranje-Nassau Développement qui regroupe des opportunités d'investissements de croissance, de diversification ou d'innovation, Wendel est également investi dans exceet en Allemagne, Mecatherm en France, Nippon Oil Pump au Japon, Saham Group, SGI Africa et Tsebo en Afrique et CSP Technologies aux États-Unis.

News Article | February 21, 2017

WESTMINSTER, Colo.--(BUSINESS WIRE)--ARCA biopharma, Inc. (Nasdaq: ABIO), a biopharmaceutical company applying a precision medicine approach to developing genetically-targeted therapies for cardiovascular diseases, today announced that Anders Hove, M.D., has joined its Board of Directors. “Anders brings decades of experience building and advising biopharmaceutical companies,” said Dr. Michael R. Bristow, President and Chief Executive Officer of ARCA. “With his expertise on both the corporate and investment sides of the industry, Anders’ input and guidance will be valuable to our Board of Directors as we continue the development of Gencaro and seek to deliver value to our stockholders.” Dr. Hove has more than 20 years of experience investing in and helping build biopharmaceutical companies. He has served on the Boards of Directors of numerous private and public companies, currently serving on the Boards of two private biopharmaceutical companies. In 2011, Dr. Hove was named to Forbes’ Midas List, which ranked the top venture capitalists in life sciences and technology. Dr. Hove received a M.Sc. in Biotechnology Engineering from the Technical University of Denmark, an M.D. from the University of Copenhagen and an M.B.A. from the Institut Européen d'Administration des Affaires, or INSEAD. “I am honored to join the ARCA Board of Directors,” said Dr. Hove. “This is an exciting time for the organization with the GENETIC-AF clinical trial interim efficacy analysis expected later this year. I believe there is a significant opportunity for developing genetically-targeted cardiovascular therapeutics, for which ARCA is well-positioned.” ARCA biopharma is dedicated to developing genetically-targeted therapies for cardiovascular diseases through a precision medicine approach to drug development. The Company's lead product candidate, GencaroTM (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator being developed for atrial fibrillation. ARCA has identified common genetic variations that it believes predict individual patient response to Gencaro, giving it the potential to be the first genetically-targeted atrial fibrillation prevention treatment. ARCA has a collaboration with Medtronic, Inc. for support of the GENETIC-AF trial. For more information, please visit This press release contains "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding, the potential timeline for GENETIC-AF trial activities, the potential for genetic variations to predict individual patient response to Gencaro, Gencaro’s potential to treat atrial fibrillation, future treatment options for patients with atrial fibrillation, the potential for ARCA to expand its cardiovascular pipeline, the opportunity related to developing genetically-targeted cardiovascular therapeutics and the potential for Gencaro to be the first genetically-targeted atrial fibrillation prevention treatment. Such statements are based on management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the risks and uncertainties associated with: the Company's financial resources and whether they will be sufficient to meet the Company's business objectives and operational requirements; results of earlier clinical trials may not be confirmed in future trials, the protection and market exclusivity provided by the Company’s intellectual property; risks related to the drug discovery and the regulatory approval process; and, the impact of competitive products and technological changes. These and other factors are identified and described in more detail in ARCA’s filings with the Securities and Exchange Commission, including without limitation the Company’s annual report on Form 10-K for the year ended December 31, 2015, and subsequent filings. The Company disclaims any intent or obligation to update these forward-looking statements.

News Article | February 24, 2017

LONDON, ENGLAND, February 24, 2017 /24-7PressRelease/ -- Social commerce is the usage of social media to drive online sales and is the fastest growing area of e-commerce. Sellers on the Moteefe platform can create custom products based on user's hobbies, passions, political views and locations; all before selling to specific target audiences via social networking platforms such as Facebook and Instagram. With millions of sales through the site in 2016 - its first full year in the market - and with a month on month overall growth of 35%, the social commerce platform is seeing a large portion of sellers quit the daily 9-5 in favour of growing their own online businesses. The first sellers to quit their jobs to work full-time on their Moteefe campaigns earned, on average, their annual salary in just 6 months, with one seller making over GBP200,000 in just one month in 2016. Between 2011 and 2015, social commerce experienced significant growth - leaping from $5 billion in sales annually to $30 billion in just four years - and one in seven of the UK workforce were classed as 'freelancers' in 2016 according to the Office for National Statistics. With advances in technology and cloud-based software driving this trend, many entrepreneurs are waving goodbye to the rigid four walls of the office in favour of the 'laptop lifestyle'. Moteefe's CEO Mathijs Eefting said: "Today's technology-driven culture is enabling young entrepreneurs the opportunities to work on what they're passionate about, become their own boss and make a considerable amount of money. Many millennials simply want the freedom to work hard and become their own boss, and Moteefe provides a risk-free opportunity to do just that. "It's much more than designing and selling t-shirts. We knew our main aim was to help people build their own businesses but seeing the increasing numbers of people working with us full-time only 18 months after the platform launched is mind-blowing." With Moteefe currently completing its second round of funding in the coming weeks, the platform will be further expanding its opportunities in the ever-increasing social media-led industry in 2017. By 2020, the company aims to provide full-time income streams to thousands of young entrepreneurs around the world. Notes to Editors: Moteefe is a social commerce platform providing a solution for users to sell customised products through social media. The solution enables social commerce entrepreneurs to monetise their online communities. Moteefe provides an end-to-end solution and eliminates the need for their entrepreneurs to source a supply chain, manage production, distribute a product on time, deal with a constant supply of customer queries, run a dedicated website... Moteefe takes care of it all. The platform provides all the heavy lifting and expertise to help entrepreneurs create and market successful products, ensuring that nothing stands in the way of their great idea. Founded in 2015 by Mathijs Eefting, Lev Kundin and Olivier Stapylton-Smith who met while completing their MBA at INSEAD in 2014, the company is backed by Ascension Ventures and Fuel Ventures and is currently based in West London. Contact: Rebecca Crutchley /

Cornil Y.,INSEAD | Chandon P.,INSEAD
Psychological Science | Year: 2013

Using archival and experimental data, we showed that vicarious defeats experienced by fans when their favorite football team loses lead them to consume less healthy food. On the Mondays following a Sunday National Football League (NFL) game, saturated-fat and food-calorie intake increase significantly in cities with losing teams, decrease in cities with winning teams, and remain at their usual levels in comparable cities without an NFL team or with an NFL team that did not play. These effects are greater in cities with the most committed fans, when the opponents are more evenly matched, and when the defeats are narrow. We found similar results when measuring the actual or intended food consumption of French soccer fans who had previously been asked to write about or watch highlights from victories or defeats of soccer teams. However, these unhealthy consequences of vicarious defeats disappear when supporters spontaneously self-affirm or are given the opportunity to do so. © The Author(s) 2013.

Sweldens S.,INSEAD | Corneille O.,Catholic University of Louvain | Yzerbyt V.,Catholic University of Louvain
Personality and Social Psychology Review | Year: 2014

This article provides a review of past and contemporary debates regarding the role of awareness in attitude formation through evaluative conditioning (EC), that is, by repeatedly pairing a stimulus with other stimuli of positive or negative valence. Because EC is considered the most prototypical method to form and change the network of evaluative associations in memory, the role of awareness in this effect is critical to the question of whether attitudes may be formed and changed through dual processes. We analyze the reasons why there has been so much discussion and disagreement regarding the role of awareness, review past and contemporary methodologies and their limitations, discuss the role of mental processes and conditioning procedures, and identify promising directions for future research in this area. © 2014 by the Society for Personality and Social Psychology, Inc.

Pitesa M.,Grenoble Graduate School of Business | Thau S.,INSEAD
Psychological Science | Year: 2014

In the research presented here, we tested the idea that a lack of material resources (e.g., low income) causes people to make harsher moral judgments because a lack of material resources is associated with a lower ability to cope with the effects of others' harmful behavior. Consistent with this idea, results from a large cross-cultural survey (Study 1) showed that both a chronic (due to low income) and a situational (due to inflation) lack of material resources were associated with harsher moral judgments. The effect of inflation was stronger for low-income individuals, whom inflation renders relatively more vulnerable. In a follow-up experiment (Study 2), we manipulated whether participants perceived themselves as lacking material resources by employing different anchors on the scale they used to report their income. The manipulation led participants in the material-resources-lacking condition to make harsher judgments of harmful, but not of nonharmful, transgressions, and this effect was explained by a sense of vulnerability. Alternative explanations were excluded. These results demonstrate a functional and contextually situated nature of moral psychology. © The Author(s) 2014.

Psychological science : a journal of the American Psychological Society / APS | Year: 2010

The current research is the first investigation of how the effects of expressing discrete emotions in negotiations vary across cultures. In a hypothetical negotiation scenario (Study 1) and a computer-mediated negotiation simulation (Study 2), expressing anger (relative to not expressing anger) elicited larger concessions from European American negotiators, but smaller concessions from Asian and Asian American negotiators. A third study provided evidence that this effect is due to different cultural norms about the appropriateness of anger expressions in negotiations: When we explicitly manipulated anger expressions to be appropriate, Asian and Asian American negotiators made larger concessions to the angry opponent, and their concessions were as large as was typical for European American negotiators; when we explicitly manipulated anger expressions to be inappropriate, European American negotiators made smaller concessions to the angry opponent, and their concessions were as small as was typical for Asian and Asian American negotiators. Implications for current understanding of culture, emotions, and negotiations are discussed.

Chandon P.,INSEAD
Applied Economic Perspectives and Policy | Year: 2013

Because packaging reaches consumers at the critical moments of purchase and consumption, it has become an important marketing tool for food manufacturers and retailers. In this paper, I first review how the marketing, health and nutrition claims made on packaging create "health halos" that make foods appear healthier than they are, thereby leading to higher consumption yet lower perceived calorie intake. I then show how packaging design (cues, shapes, and sizes) biases people's perception of quantity and increases their preference for supersized packages and portions that appear smaller than they are. Finally, I examine the extent to which mandatory nutrition labels, stricter regulation of package claims, public promotion of mindful eating, and mindless eating nudges could limit the biasing effects of packaging on food perceptions and preferences. © The Author(s) 2012. Published by Oxford University Press, on behalf of Agricultural and Applied Economics Association. All rights reserved.

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