Enter Demant - name changes for William Demant Holding and Oticon Foundation

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William Demant Holding is expected to change its name to Demant this March 19 when the Danish hearing giant's AGM approves this proposal aimed at creating a clearer corporate brand identity.

Meanwhile, another name change awaits the group's main shareholder, Oticon Foundation, which will become William Demant Foundation.

Demant CEO Søren Nielsen said the move would "strengthen the whole Demant Group by offering a shared and compelling corporate story and communication platform."

"A stronger Demant brand will foremost increase collaboration and belonging across the Group, but also give us a better opportunity to attract the best talents and people to work for one of the group’s many entities,” he added.

The change will not affect customers trading with the Demant group.

The pre-approved change from Oticon Foundation to William Demant Foundation, the entity set up to "safeguard and expand the commercial activities of Demant through the investment company William Demant Invest A/S" is explained by Foundation chairman Lars Nørby Johansen: "The change of name to William Demant Foundation will establish a clearer and more logical structure of the whole William Demant Group. While preserving the personal link to the founder and the driving force of the original company, we also now have a clearer articulated company hierarchy."

The name of William Demant Invest remains unchanged.

Source: GlobalNewswire

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