Extension of the Executive Board of William Demant

Nomination

© William Demant. Søren Nielsen (left), René Schneider (right)

According to a press release published on June 16, William Demant Holding A/S has employed René Schneider to fill a newly created position as Chief Financial Officer, CFO, starting from September 1.

René Schneider comes from a position as CFO with Auriga Industries, which he has held since 2013. He has formerly also been employed with NNIT, Novo Nordisk and NeuroSearch.

The company also announced the promotion of Søren Nielsen to Chief Operating Officer, COO. Søren Nielsen has been employed with William Demant since 1995. For the past two decades, he has held different positions with the Group, and since 2008, he has been President of Oticon A/S.

"René Schneider will become overall responsible for implementing the Group's already initiated change and efficiency improvement projects in Shared Services, e.g. IT, Finance and Administration as well as Operations and Supply Chain," says Niels Jacobsen, President & CEO of William Demant. "Søren Nielsen will continue to be responsible for our entire wholesale hearing instrument business. In addition, one of his main tasks will be to ensure that we realise synergies across all our business activities."

Both René Schneider and Søren Nielsen will become members of the Executive Board of William Demant, headed by President & CEO, Niels Jacobsen. Apart from the Executive Board, the Management group will consist of Arne Boye Nielsen (Diagnostics), Niels Wagner (Retail) and Svend Thomsen (Finance).

Stefan Ingildsen, Senior Vice President, Finance, will continue in his present position until 1 September 2015 when René Schneider will take up his position as CFO. "Stefan Ingildsen has worked closely with me for the past ten years and has during that time made a tremendous effort in Finance and Investor Relations. He will leave the Group at his own request," says Niels Jacobsen.

Source: William Demant Holding