EQS-Adhoc

GN Store Nord A/S: GN moves to “one company” governance structure; appoints Peter Karlstromer to Group CEO

EQS-Ad-hoc: GN Store Nord A/S / Key word(s): Personnel GN Store Nord A/S: GN moves to “one company” governance structure; appoints Peter Karlstromer to Group CEO 04-Sep-2023 / 18:20 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The GN Group has a long and proud history as a technology innovator and, today, enjoys strong positions in attractive hearing, enterprise collaboration, and consumer gaming markets. In recent years, GN has increasingly expanded collaboration and integration across its two business divisions, GN Hearing and GN Audio, thus benefitting from joint innovation and leveraging combined scale to drive growth and profitability.

GN’s Board of Directors has now decided to execute the next step of integration and transition into a one-company setup, simplifying the Group’s governance structure to drive further market success and shareholder value creation as a fully integrated innovation powerhouse. This includes a transition into one company with one Board, one Group CEO, and one Group CFO.  

The Board has appointed Peter Karlstromer as the Group CEO. In the coming months Peter will form the new executive leadership team and design the new organizational structure of GN.  

Gitte Aabo will step down from her executive roles as CEO of GN Store Nord and GN Hearing as she wishes to devote herself to a full-time board career. Going forward, Peter Karlstromer and Group CFO Søren Jelert will constitute the Executive Management of GN. 

These changes will take effect on October 1, 2023. Gitte Aabo is committed to stay on through the remainder of 2023 to ensure a seamless transition. 

Chair of the Board, Jukka Pertola, comments: “The time has come to further align into one company. The changes we are making will simplify our governance and strengthen the way we operate. We have significant opportunities ahead of us and I am pleased that Peter Karlstromer has accepted the role as Group CEO to lead the business as we move into the future. On behalf of the Board, I would also like to express our gratitude for the turnaround of GN Hearing that Gitte has successfully led over the past four years. Following this, we respect her decision to now fully focus on her board career as she leaves our hearing business in great shape. I wish her all the best for her future.”