News Article | August 9, 2017
— The Global Hearing Aids Market was valued at US$ 7584.8 million in 2016 and is projected to expand at a CAGR of 4.6% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Technologically advanced devices with additional features, which in turn is projected to support growth of the hearing aids market over the forecast period. Major players such as Sivantos Inc., Sonova Holding AG are focusing on product development and innovation to expand their sales network in emerging economies. For example, Sivantos Inc. has launched products with features such as Bluetooth connectivity, slick design, binaural listening technology, and customizable size as per user need. Also, in case of in-the-ear type of hearing aids, they provide features such as noise cancellation, vent for optimal ear ventilation. There are some restraining factors leading to gap between need and supply of hearing aids. These include lack of awareness in emerging countries about technologically advanced hearing aids, high cost of hearing aids specifically of digital type of hearing aids, lack of healthcare infrastructure in rural areas of emerging economies. To know the latest trends and insights prevalent in the Hearing Aids Market, click the link below: There are various players in the market that are confined to product diversification and customization for the sales growth. Furthermore, the companies are continuously working on the product development and advancement that aligns to the need and requirement of the users. The manufacturers have opportunity to tap major market share in case of emerging countries through advertisement about product features and by controlling the cost of hearing aids through R&D activity. Increasing population and growing incidence of hearing loss, especially in emerging economies is expected to create a conducive environment for growth of the hearing aids market. Request a Sample Copy of the Business Report by CMI @ https://www.coherentmarketinsights.com/insight/request-sample/415 The global hearing aids market is expected to expand at a CAGR of 4.6% during the forecast period (2017–2025). Due to rising incidence of hearing loss problem cases and aging population the demand for hearing aids from around the globe is expected to favor the market of hearing aids over the forecast period. The behind the ear hearing aids product segment in the global hearing aids market was estimated to be the largest in 2017 and is expected to retain its dominance in the market throughout the forecast period in terms of value In terms of technology segment, the digital type of hearing aids is expected to expand at a significant CAGR of 4.6% during the forecast period, owing to it being more advanced in terms of technology and features The global hearing aids market is characterized by market expansion in Asia Pacific, North America, and Europe could generate higher market revenue due to the increase in aging population and rising awareness about the advanced technology Some of the major companies offering hearing aids market are Sonova Holding AG, Sivantos Inc., Cochlear Ltd., SeboTek Hearing Systems LLC, Oticon A/S, Zounds Hearing Inc, MED-EL, Sonic Innovations Inc., GN Hearing and William Demant Holding A/S. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. For more information, please visit https://www.coherentmarketinsights.com/market-insight/hearing-aids-market-415
News Article | July 11, 2017
SOMERSET, N.J.--(BUSINESS WIRE)--Voting is now open for the 2017 Oticon Focus on People Awards at www.oticon.com/FOP. People are invited to cast their votes for the 12 finalists who represent the "best of the best" from this year's nominations in each of four categories – Student, Adult, Advocacy and Practitioner. The total number of votes received by each finalist will help to determine who will be the first, second and third place winners in each category. This is the 19th year that the Oticon Focus on People Awards honors hearing impaired students, adults and advocacy volunteers who are making the world a better place for people with hearing loss. Leading hearing solutions manufacturer Oticon, Inc. created the national awards program in 1997 to drive awareness and understanding that can change attitudes and open doors of opportunity for all people with hearing loss. Hearing loss is the third most common physical condition, after arthritis and heart disease. It has been shown to affect physical health, cognition, social skills, family relationships, self-esteem and more. Outdated stereotypes of what it means to live with hearing loss often discourage people from seeking life-changing help. “By spotlighting people with hearing loss and their contributions, Oticon aims to change negative perceptions that discourage people from seeking professional help for their hearing loss,” says Nancy Palmere, Director of Consumer Marketing and Public Relations for Oticon, Inc. Voting is open now through August 31, 2017, at www.Oticon.com/FOP. Winners will be announced in October.
News Article | July 7, 2017
SOMERSET, N.J.--(BUSINESS WIRE)--In a world’s first, Oticon, Inc. has joined forces with chart-topping rock band Styx for a live concert broadcast exclusively for fans wearing the company’s Oticon Opn™ Internet-connected hearing aids. Scheduled as part of the band’s nationwide summer tour, this will be the first time a live performance will be delivered directly to hearing aid wearers, enabling them to stream the heart-pumping sounds of an in-person concert directly to their hearing aids. The partnership will highlight Styx’s continued commitment to high-quality sound as well as Oticon Opn’s life-enhancing open sound experience. Opn, Oticon’s family of Internet-connected hearing aids, can communicate directly with a full range of connected devices, so wearers can listen to TV; connect with doorbells, smoke detectors, and other smart devices; and even get the weather—all through their hearing aids. And now, hearing aid wearers can add “listen to the live broadcast of a rock concert” to the list. The award-winning Opn also performs well at in-person events. The small, discreet hearing aid delivers a more natural, clear, and open sound that allows users to more easily participate in conversations in crowded, noisy environments such as restaurants, public venues, or even live rock concerts. Now available as a rechargeable solution, Opn miniRITE hearing aids can be charged overnight to provide wearers with all-day power to last through any big event. In addition to demonstrating the wireless connectivity of the Opn platform, the live broadcast will highlight Styx’s legendary production quality, which it has replicated on its new album, “The Mission,” released on June 16. Styx produced the album, the band’s first in 14 years, using many of the same analog production and recording technologies that gave the band its distinctive sound on hits such as “Renegade,” “Come Sail Away,” and “Blue Collar Man.” “We are proud to announce a special alliance with Oticon to present the first live concert to be streamed to fans wearing Oticon Opn hearing aids,” said Tommy Shaw, lead vocalist and guitarist for Styx. “Hearing loss affects fans of all ages and with Oticon’s new technology, we are looking forward to being a part of this historic event!” Many fans that grew up listening to Styx are now at the age where hearing loss becomes more prevalent. In fact, one in six baby boomers experience hearing loss, making it difficult for them to enjoy concerts, theater, and other public events. This new active generation of people with hearing loss wants solutions that allow them to stay engaged in all aspects of their lives, and the advanced technology of Oticon Opn enables them to do just that. From making it easier to follow and participate in conversations with multiple speakers to delivering the unmatched sound of a live Styx concert, Opn proves that when treated, hearing loss sufferers can live active, social lives. “This partnership between Oticon and Styx is a match made in sound quality heaven,” said Sheena Oliver, Vice President, Marketing at Oticon. “The Styx live broadcast is an exciting way to reach Opn wearers who are affected by hearing loss, and also helps to remind people of all ages about the importance of hearing health. Through this event, we will demonstrate how Oticon Opn enables those with hearing loss to rock on and actively participate in all of life’s moments and memories.” For more information on the entire Oticon Opn family, visit www.Oticon.com/Opn. Oticon is one of the most innovative hearing device manufacturers with more than 110 years of experience putting the needs of people with hearing loss first. Oticon has spearheaded a number of technological breakthroughs which have made a significant difference for people with hearing loss. Oticon’s “brain first” audiological focus recognizes that speech understanding and comprehension are cognitive processes that happen in the brain. Oticon’s innovative BrainHearing™ technology is helping to provide better hearing with less effort by giving the brain the clearest, purest sound signals to decode. Oticon designs and manufactures hearing solutions for adults and specialized pediatric instruments. “People First” is Oticon’s strongest and most valued commitment to empower people to communicate freely, interact naturally and participate actively. For more information visit www.oticon.com. The six men comprising Styx have committed to rocking together with audiences far and wide by entering their fifth decade of touring. Averaging over 100 shows a year, each member of Styx is committed to making the next show better than the last. Styx draws from over four decades of chart-topping hits. Like a symphony that builds to a satisfying crescendo, a Styx set covers a wide range of stylistic cornerstones. From the progressively sweeping splendor that is “The Grand Illusion” to the hunker-down fortitude of all that is the “Blue Collar Man,” from the regal reach-for-the-stars bravado of “Come Sail Away” to the grainy all-in gallop of that rugged “Renegade” who had it made, the band draws on an unlimited cache of ways to immerse one’s mind and body in their signature sound.
News Article | August 14, 2017
Market share gains in wholesale of hearing aids, with organic growth of 11% driven by Oticon Opn Group organic growth of 8% due to innovative products and strong performances by all businesses Based on strong EBIT growth of 28% in the first half-year, we increase our guidance for 2017 "I'm pleased with the overall very good development of the Company in the first half-year where we've seen strong performances by all our business activities. Being able to deliver such high growth rates is a testament to the strong product in-novation and customer focus across the entire Group, but also a clear indication that we are moving in the right direction to deliver on our hearing healthcare strategy. The fact that we've entered the second half in very good shape makes me confident that we can maintain our positive momentum for the remainder of the year, which is also the reason why we've increased our guidance for 2017," says Søren Nielsen, President & CEO.
News Article | June 26, 2017
ZPower, the world’s only developer of rechargeable, silver-zinc microbatteries, announces its collaboration with the hearing aid manufacturer Oticon to make the award-winning Internet-connected Oticon Opn™ hearing aid rechargeable. Rechargeable hearing aids are among the top features sought by hearing aid users. According to a study of over 500 hearing aid users, 70 percent said they want rechargeable hearing aids even though only 11 percent said they currently have them.* Until recently, rechargeable hearing aids were limited to using lower energy density nickel–metal hydride (NiMH) batteries, which frequently deliver less than a full day of power. This battery chemistry’s limited performance resulted in a low level of market acceptance. ZPower is changing this with its innovative silver-zinc rechargeable battery technology that delivers a full day of power on a single charge. ZPower batteries offer hearing aid wearers the confidence of all-day power—with streaming—and the flexibility to interchange ZPower batteries with zinc-air disposable batteries. Additionally, ZPower batteries are safe, non-flammable and recyclable; no other rechargeable battery on the market today can provide this combination of features and benefits. “We are proud that Oticon chose ZPower’s rechargeable battery technology for its first rechargeable hearing aid,” said Sara Sable-Antry, VP of Sales and Marketing for ZPower. “It has been our mission to use ZPower’s innovative silver-zinc battery technology to improve the quality of life of hearing aid wearers, and now, with the launch of the rechargeable Oticon Opn, more patients will benefit from the convenience of reliable, rechargeable hearing aids.” “Oticon Opn internet-connected hearing aids have unlocked an entirely new experience for wearers who want the power of the internet while hearing better in their daily lives,” said Janne Jakobsen, Sr. Director, Oticon Sales & Marketing. “And now, with the help of ZPower, our new rechargeable solution extends that experience by providing an added degree of confidence that hearing aid wearers deserve.” To learn more about ZPower batteries, please visit http://www.zpowerhearing.com. For more information on the entire Oticon Opn family, visit http://www.oticon.global/opn. About ZPower, LLC: ZPower, with headquarters and manufacturing facility in Camarillo, California, is a leader in the development of rechargeable silver-zinc batteries for microbattery applications. ZPower batteries deliver unmatched performance, improve user experience and are better for the environment. ZPower is ISO13485:2016 and ISO 9001:2008 certified, and its facility and devices are registered with the FDA. For more information, visit http://www.zpowerbattery.com. About Oticon: 500 million people worldwide suffer from hearing loss. The majority are over the age of 50, while eight percent are under the age of 18. It is Oticon's ambition that our customers—hearing clinics throughout the world—prefer to use our products for people with impaired hearing. Through passion, dedication and professional expertise, Oticon develops and manufactures hearing aids for both adults and children. Oticon supports every kind of hearing loss, from mild to severe, priding ourselves on developing some of the most innovative hearing aids in the market. Headquartered in Denmark, we are a global company and part of William Demant Holding Group with more than 12,000 employees and revenues of over DKK 12 billion. http://www.oticon.global
News Article | June 13, 2017
SOMERSET, N.J.--(BUSINESS WIRE)--Hearing aids just got much more convenient. Oticon, Inc. today introduced the advantages of a rechargeable battery and on-demand tinnitus management to its Internet-connected Oticon Opn™ hearing aid. These features, among others, allow wearers to hear better all day—even in the noisiest environments—while relieving the annoyance of tinnitus and enjoying all the benefits of Internet connectivity. Powered by Oticon’s exclusive BrainHearing™ technology, the award-winning Opn hearing aids deliver an open sound experience that improves the wearer’s ability to hear and manage multiple speakers in the most challenging environments, including restaurants, social gatherings, and public venues. Wearers can now easily charge Opn hearing aids overnight, gaining the convenience and confidence of all-day power so they can hear better and stay connected throughout the day. All previously purchased Opn miniRITE devices can get retrofitted to be rechargeable. These hearing aids also are compatible with disposable batteries for instances when charging overnight is not possible. New soothing tinnitus relief sounds, including popular ocean and nature sounds, provide relief for the discomfort experienced by the estimated 50 million Americans with tinnitus, or ringing in the ears. Oticon’s Tinnitus SoundSupport™ will come preloaded on all new Opn devices, and current Opn wearers can obtain it through a simple update by their local hearing care professional. “Oticon Opn Internet-connected hearing aids have unlocked an entirely new experience for wearers who want the power of the Internet while hearing better in their daily lives,” said Sheena Oliver, Vice President of Marketing for Oticon. “Our new rechargeable solution extends that experience by providing a degree of confidence hearing aid wearers deserve. They’re also environmentally friendly. One pair of rechargeable batteries used in Opn hearing aids can save an estimated 150 to 200 disposable batteries per year. Add to this our Tinnitus SoundSupport, and we can now provide greater comfort to more hearing-impaired people than ever before.” Oticon Opn hearing aid wearers strain less to listen, understand, and remember information. In fact, Opn hearing aids have been shown to boost speech understanding by 30 percent, while reducing listening effort by 20 percent and improving memory capacity by 20 percent.* For more information on the entire Oticon Opn family, visit www.Oticon.com/Opn. Oticon is one of the most innovative hearing device manufacturers with more than 110 years of experience putting the needs of people with hearing loss first. Oticon has spearheaded a number of technological breakthroughs which have made a significant difference for people with hearing loss. Oticon’s “brain first” audiological focus recognizes that speech understanding and comprehension are cognitive processes that happen in the brain. Oticon’s innovative BrainHearing™ technology is helping to provide better hearing with less effort by giving the brain the clearest, purest sound signals to decode. Oticon designs and manufactures hearing solutions for adults and specialized pediatric instruments. “People First” is Oticon’s strongest and most valued commitment to empower people to communicate freely, interact naturally and participate actively. For more information visit www.oticon.com.
News Article | June 22, 2017
— Nearly 30 million American adults today could benefit from hearing aids, according to the National Institute on Deafness and Other Communication Disorders. Even so, only one in three over the age of 70 who fall into this group--along with a mere one in six younger adults--has ever used one. For over half a century, Sandia Hearing Aid Center has been helping people throughout the area hear what a difference the right device can make. As the top source for hearing aids in Colorado Springs, Sandia Hearing Aid Center offers products from a wide range of leading manufacturers like Starkey, Unitron, Westone, Siemens, Phonak, Oticon, and Resound, along with childrens' and specialty devices. By helping each individual understand which of several hearing aid levels will most suit their specific needs, activities, and degree of hearing loss, Sandia Hearing Aid Center experts ensure the best possible results, regardless of budget. Offering custom-fitted ear molds that suit even the most specialized requirements or professional situations, Sandia Hearing Aid Center has been proving since 1959 that the right hearing aid for a particular person can make life even more rewarding. "Many people in the area today grapple with hearing loss, but there are often effective, accessible ways of fighting back," said Sandia Hearing Aid Center representative N. Brewer. "For nearly 60 years, we have been dedicated to providing personalized, customized hearing aid service and support, and that approach continues to improve the lives of our clients. From premium, level 9 Resound hearing aids to affordable standard-level devices, our providers are committed to helping people hear better, one person at a time. With two locations in Colorado Springs and one in Pueblo to choose from, we invite everyone throughout the area to get in touch to learn more." Although people suffering from hearing loss had used simple "ear trumpets" for centuries, the modern, electrical hearing aid was invented by an Alabama native named Miller Reese Hutchison sometime around 1895. Since then, hearing aids have advanced by leaps and bounds, with a host of technologies like digital signal processing chips and low-power wireless transmitters making them far more capable and convenient to rely upon. Since 1959, Sandia Hearing Aid Center has been the leading Colorado Springs hearing aids provider. With highly trained healthcare professionals providing top-quality hearing testing, diagnosis, and treatment, Sandia Hearing Aid Center always delivers highly personalized service that accounts for each person's situation, lifestyle, and budget. Those interested can learn more and take a free, five-minute online hearing test at the Sandia Hearing Aid Center website. About Sandia Hearing Aid Center: Offering personalized service and a wide range of products from top manufacturers, Sandia Hearing Aid Center is dedicated to helping people in the Colorado Springs and Pueblo areas hear better, one person at a time. For more information, please visit https://www.kingsandia.com/
News Article | February 23, 2017
Strong revenue growth of 13% driven by successful Oticon OpnTM and retail activities Record-high EBIT of DKK 2,130 million supported by a strong finish to the year This announcement includes the highlights from the Annual Report 2016: "2016 was a strong year for William Demant where Oticon's game changer Opn and increased retail activities drove our very satisfactory growth. Overall, our activities resulted in a record year for our Group, and I am pleased that we continue to deliver consistently and at a steady pace on our hearing healthcare strategy. William Demant's presence in all product segments of hearing healthcare enables us to harvest synergies and obtain economies of scale. Leveraging on our R&D, global infrastructure and distribution network across the Group gives us a truly competitive edge. Furthermore, our long-term and extremely valuable relationship with our customers has once again proven to be essential for us in our endeavours to continue to develop our position and not least make a positive difference for people who live with a hearing loss," says Niels Jacobsen, President & CEO of William Demant Holding. The full Annual Report 2016 for William Demant Holding A/S totalling 132 pages is attached to this announcement. Key figures and financial ratios for 2012 have not been adjusted to the changes in accounting policies from 2014. Earnings per share (EPS) is per share of nominally DKK 0.20. * Adjusted for one-off costs related to restructuring activities.
News Article | February 23, 2017
Koncernchef og administrerende direktør Niels Jacobsen har valgt at stoppe efter 25 år i William Demant Holdings direktion for at blive administrerende direktør i William Demant Invest A/S. Nuværende Chief Operating Officer (COO) og viceadministrerende direktør, Søren Nielsen, bliver ny koncernchef og administrerende direktør for William Demant Holding. Ledelsesændringerne træder i kraft den 1. april 2017. Direktionen vil fremadrettet bestå af Søren Nielsen og koncernfinansdirektør René Schneider med en øvrig ledelsesgruppe bestående af Arne Boye Nielsen (Diagnostik), Niels Wagner (Retail) og Svend Thomsen (Finans). Oticon Fonden offentliggør desuden en række andre ændringer i ledelsen og bestyrelserne i William Demant-gruppen. Om valget af Søren Nielsen siger nuværende formand Lars Nørby Johansen, William Demant Holding: "Med Søren Nielsen som koncernchef får selskabet en stærk leder, der skal sikre William Demant Holdings fortsatte konkurrencekraft i en dynamisk branche. Han står for både forandringsparathed og kontinuitet og kan videreføre strategien, så selskabet fortsætter sin vækst. Med mange års indsigt i branchen, evnen til at se nye veje og flere kommercielle succeser i bagagen er Søren Nielsen den rette til at lede William Demant Holding, hvor han i øvrigt er meget respekteret som leder." "Jeg er stolt og beæret over at få lov at stille mig i spidsen for en fantastisk virksomhed, som år efter år har leveret gode resultater - ikke mindst i 2016. Vi står på en enorm stærk platform, klar til at møde konkurrencen og den hastige udvikling i vores marked og sammen med vores kunder at levere de mest innovative og velfungerende produkter til slutbrugeren." William Demant Holdings bestyrelsesformand, Lars Nørby Johansen, vil på den forestående generalforsamling således ikke søge genvalg. Lars Nørby Johansen fortsætter dog sit virke i William Demant-gruppen, da bestyrelsen for Oticon Fonden har indstillet ham til posten som bestyrelsesformand for Oticon Fonden. Her efterfølger han Niels Boserup, som ønsker at træde tilbage efter godt 10 år som formand for Oticon Fonden. De sidste otte år har Søren Nielsen haft det overordnede ansvar for den samlede høreapparatforretning, og han har været med ind over væsentlige strategiske beslutninger og opkøb for hele gruppen, senest også som medlem af direktionen siden september 2015. Søren Nielsen skal videreføre William Demant Holdings hearing healthcare-strategi, som han også har været med til at skabe: At vokse inden for alle områder af høresundhed, herunder høreapparater, høreimplantater og diagnostik, og udnytte infrastruktur og viden til at udvikle selskabets markedslederposition. Søren Nielsen vil fortsætte med at prioritere udviklingen af virksomhedens kultur og medarbejdere højt og vil samtidig have fokus på kunden og bruge teknologien og innovation som vigtige redskaber til at drive forretningen fremad. Han er stærkt optaget af at udnytte synergier på tværs af alle forretningsaktiviteter i William Demant Holding og griber enhver lejlighed til at understrege vigtigheden af at udvikle selskabets globale distributions- og shared services-set-up. Op gennem 00'erne var Søren Nielsen med til at sikre en stribe vigtige kommercielle succeser, blandt andet Oticon Delta, der ændrede måden at designe høreapparater på. I 2016 stod han bag lanceringen af game-changeren Opn, et internet-forbundet høreapparat, som åbner lydbilledet og gør brugeren i stand til at deltage aktivt i komplicerede lyttesituationer. Født 1970 1995-2008 En række ledelsesstillinger i Oticon A/S inden for kvalitet, udvikling og salg 2008- Administrerende direktør, Oticon A/S 2015- COO og viceadministrerende direktør, William Demant Holding A/S Han voksede op i en lille by uden for Aabenraa og elskede at rode med knallerter og teknik, blandt andet den computer, han købte for sine sparepenge i 9. klasse i 1981. Det var dengang, en almindelig computer - med meget begrænset kapacitet - kostede det samme som en lille familiebil. Drømmen var dog at blive jagerpilot, men med sine 195 centimeter var Niels B. Christiansen for høj. I stedet blev han ingeniør og dimitterede fra DTU med et snit på 12,2 efter den gamle skala. Efter en MBA i Frankrig, hvor han blev nummer et på årgangen, startede den uddannede ingeniør erhvervskarrieren som konsulent hos McKinsey & Co, blev derefter direktør for corporate development hos boremaskineproducenten Hilti i Schweiz, og som 31-årig blev han administrerende direktør i GN Netcom i 1997.
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