GN announces changes to Executive Management

Søren Jelert takes over as new CFO of GN Store Nord during Q2 2023 – Peter la Cour Gormsen has decided to pursue opportunities outside GN

GN Store Nord’s CFO, Peter la Cour Gormsen will step down from his position to pursue other opportunities outside GN. Peter will continue in his position well into 2023, thus managing the financial closing of 2022 as well as the annual reporting for 2022.

As new CFO for the GN Group, GN is pleased to announce the appointment of Søren Jelert, who will join GN during Q2 2023. Søren is an internationally experienced finance professional, who joins GN from ALK-Abello. As the ALK-Abello CFO since 2018, Søren has provided strong leadership, built a strong team and built solid relationships with investors, ensuring that strategy and performance were clearly communicated. Prior to this position Søren has a strong track record of building and leading best-in-class global finance organizations for companies such as Novo Nordisk and NNE Pharmaplan (see brief resumé for Søren Jelert at the end of this announcement).

Chairman of GN’s Board of Directors, Per Wold-Olsen, comments: “We are very pleased to have attracted such an experienced and strong financial leader as Søren Jelert to take over as our new CFO. We are also pleased that Peter Gormsen has accepted to stay on during his notice period to ensure a professional handover to Søren. The GN Store Nord Board is confident that GN’s financial organization will transition smoothly and professionally to the new leadership. Peter has built a great finance team and throughout seven years actively supported GN Audio’s remarkable growth journey, for which we sincerely thank him.”

Søren Jelert comments: ”I’m looking forward very much to joining GN and contribute to driving the desired business results. While the current macro-environment is challenging and also has impacted GN, I see the company’s fundamental business drivers as fully intact and very attractive. I am truly excited by the company’s commitment to innovation and its global reach. As a Group CFO I see the financial and external challenge presenting a lot of opportunities, which I look forward to pursuing together with GN’s new leadership team.”

Peter la Cour Gormsen comments: ”The past seven years with GN has been a tremendous journey for me. I have had the privilege to lead and work alongside extremely talented managers and team members, who have accomplished amazing results that we hardly dreamt of when I joined the company. I wish them all the best as I now look to the next chapter of my career.”

Statutory registration of management

As René Svendsen-Tune steps down on January 2, 2023, Peter Karlstromer assumes his role as CEO of GN Audio and member of Executive Management. René Svendsen-Tune will, as also previously communicated, stay on well into 2023 to ensure a seamless transition and handover to Peter Karlstromer.

René Svendsen-Tune will also on January 2, 2023, be de-registered as CEO of the Group’s parent company GN Store Nord A/S. Gitte Aabo, CEO of GN Hearing and a member of the Group Executive Management, will then be registered as CEO for the Group’s parent company.

Resumé on Søren Jelert:

Born: 1972

Nationality: Danish

Education: Bachelor of Science, Master of Management Accounting, Copenhagen Business School

Career:

2018 – present: ALK-Abello, CFO & EVP

2008 – 2017: NNE Pharmaplan

2016 – 2017: General Manager NNE Inc. & CVP (location: U.S.)

2008 – 2016: CFO & CVP

2001 – 2008: Novo Nordisk

2005 – 2008: Operations & Finance Director Novo Nordisk Europe North (location: U.K.)

2004 – 2005: Manager Operations Finance, Corporate Financial Planning

2002 – 2004: Manager R&D Finance, Corporate Financial Planning

2001 – 2002: Business Controller, R&D Finance, Corporate Financial Planning

1998 – 2001: Maersk Oil & Gas, Business Controller

For further information, please contact:

Investors and analysts

Anne Sofie Staunsbæk Veyhe

Vice President – Investor Relations, Treasury and M&A

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or

Rune Sandager

Senior Director – Investor Relations

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Press and the media

Steen Frentz Laursen

Vice President – Group Communication

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or

Kim Ege Møller

Head of Global Media Relations & Corporate Public Affairs

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About GN

GN facilitates communication between people through intelligent hearing, audio, video, and gaming technology. Inspired by people and driven by our passion for innovation, we leverage technologies to deliver unique user experiences that bring people closer through the power of sound and vision.

GN was founded more than 150 years ago with a vision to connect the world. Today, we proudly honor that legacy with our world-leading expertise in the human ear, audio, video and speech, wireless technologies, software, miniaturization, and collaboration with leading technology partners. GN's solutions are marketed by the brands ReSound, SteelSeries, Jabra, Beltone, Interton, BlueParrott, Danavox and FalCom in 100 countries. Founded in 1869, the GN Group employs 8,000 people and is listed on Nasdaq Copenhagen (GN.CO).

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