Smørum, Denmark, September 10, 2008 The new Executive Board to head Oticon A/S in the future consists of two Company veterans, both of whom have up until today been part of the management team. Between them, they have 24 years of experience in the Company.
Søren Nielsen, 37 years, will as President be responsible for R&D, marketing and Human Resources based at Oticon's development centre at Smørum on the outskirts of Copenhagen, which also houses the Group's headquarters. Mikael Worning, 45 years, will as Executive Vice President head the international organization and Oticon's 25 sales companies.
About the new Executive Board
"Søren Nielsen and Mikael Worning know Oticon like the back of their hands, and I have had the pleasure of working closely together with them for many years," says Niels Jacobsen, President & CEO of William Demant Holding. "I'm confident that together with Oticon's many competent employees, they will be able to take on the mantle, continue Oticon's positive development and further trengthen Oticon's position as global market leader in the hearing aid industry."
Niels Jacobsen maintains close connection with Oticon
In connection with the appointment of the new Executive Board, Oticon's Board of Directors will be reshaped: Niels Jacobsen will become new Chairman of Oticon A/S, which is in line with the set-up of the other subsidiaries in the William Demant Holding Group. "The appointment of the new Executive Board should be seen as a logical development in our Group, where I as President & CEO of William Demant Holding A/S have hitherto had double duties as President of the subsidiary Oticon," says Niels Jacobsen. "As Chairman of Oticon, I now pass the baton on to two very competent leaders who are ready and capable of meeting the challenges. The strategy for Oticon will remain unchanged."
Background
Søren Nielsen is appointed President from a position as head of the R&D function. He holds a Master of Science in Engineering and has been with Oticon for 13 years. He is married and the father of three boys aged 0 to 5.
Mikael Worning, Executive Vice President, has been with Oticon for 11 years, including five years as President of Oticon's US subsidiary. He is a graduate in economics, married and the father of three girls aged 7 to 14.
About Oticon
Oticon is a leading manufacturer of hearing aids and a pioneer within the field of digital technology. The Company was founded in 1904 and employs more than 3,000 staff all over the world. Oticon's products are sold in more than 100 countries. Oticon's vision is to put People First by developing practical solutions that make life easier for people with a hearing loss.
For more information about Oticon, visit www.oticonusa.com or the Oticon Web Channel on AudiologyOnline at www.audiologyonline.com/channels/oticon.asp
