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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."
Peter Karlstromer, comments: "I am proud to take on the role as Group CEO. We are in strong positions across our
company, and I am excited to lead a customer focused organization that brings innovation to our customers and partners.
I believe that moving to "One GN" will make us a better workplace with benefits to all the valued employees we have
today and will attract in the future. Our simplified governance will also allow us to further benefit from the scale
and strengths we have across our company and accelerate our path to success and superior shareholder value creation."
Gitte Aabo comments: "Four years ago we set out to modernize hearing care and enable everybody to find a hearing
solution that fits their lifestyle. I could not be prouder of how our teams have led this innovation and brought
leading products successfully to the market. The time is right for me to take a next step that will allow me to fully
dedicate myself to support companies in non-executive roles. I firmly believe that the changes we do now in GN to move
to "one company" is right for our business, our people, and our shareholders, and I'm looking forward to assisting with
making this transition seamless and successful."

For further information, please contact:
Investor Relations
Anne Sofie Staunsbæk Veyhe +45 45 75 85 06
Rune Sandager +45 45 75 92 57

Media Relations
Steen Frentz Laursen +45 20 65 34 20
About GN
GN brings people closer through our leading intelligent hearing, audio, video, and gaming solutions. Inspired by people
and driven by innovation, we deliver technology that enhance the senses of hearing and sight. We help people with
hearing loss overcome real-life challenges, improve communication and collaboration for businesses, and provide great
experiences for audio and gaming enthusiasts.
GN was founded more than 150 years ago with a vision to connect the world. Today, inspired by our strong heritage, GN
touches more lives than ever with our unique expertise and the broadest portfolio of products and services in our
history - bringing people closer to what is important to them.
We market our solutions with the brands Jabra, ReSound, SteelSeries, Beltone, Interton, BlueParrott, Danavox, and
FalCom in 100 countries. Founded in 1869, GN Group employs more than 7,500 people and is listed on Nasdaq Copenhagen
(GN.CO).
Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter
End of Inside Information
04-Sep-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press
Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      GN Store Nord A/S 

Lautrupbjerg 7
2750 Ballerup
Denmark

Phone:        +45 457 50000 
E-mail:       investor@gn.com 
Internet:     www.gn.com 
ISIN:         DK0010272632 
WKN:          854734 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart, Tradegate 

Exchange
EQS News ID: 1718585

End of Announcement EQS News Service
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1718585 04-Sep-2023 CET/CEST

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September 04, 2023 12:20 ET (16:20 GMT)