Stäfa (Switzerland), January 10, 2020 – Sonova Holding AG, a leading provider of hearing solutions, announces today that its Board of Directors nominates Adrian Widmer as a new board member for election at the next Annual General Meeting (AGM) in June 2020. The company also announces that Michael Jacobi will not stand for re-election at the AGM 2020, having served as a member the Board of Directors since 2003 and as Chairman of the Audit Committee from 2004 until 2019.
Mr. Adrian Widmer (born in 1968, Swiss citizen) is Group CFO of Sika AG, a global specialty chemical company based in Switzerland, since 2014. He previously served as Head Group Controlling and M&A at Sika from 2007 to 2014. Prior to joining Sika, he held various management positions at BASF, Degussa and Textron Inc. in the areas of finance and controlling, business development and general management. Mr. Widmer holds a Master of Science degree in Business and Economics from the University of Zurich, Switzerland and completed the Advanced Management Program of INSEAD Fontainebleau in France. If elected at the Annual General Meeting in June 2020, the Board of Directors intends to appoint Mr. Widmer as Chairman of the Audit Committee.
Robert Spoerry, Chairman of the Board of Directors of Sonova Holding AG, stated, “With his broad management and financial background as well as his experience in M&A and business development, Mr. Widmer is a valuable addition to the Board of Directors and an excellent candidate to become the Chairman of the Audit Committee. His nomination is a further step in the rejuvenation of the Board.”
Mr. Spoerry added, “On behalf of the entire Board of Directors, I want to sincerely thank Michael Jacobi for his valuable contributions to the company during his tenure. In his role as a member of the Board of Directors and as the very long-standing Chairman of the Audit Committee, his dedication and in particular his profound expertise in financial matters have been vital for the successful development of Sonova. We wish him all the best for the future.”
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This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova’s control. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
Sonova, headquartered in Stäfa, Switzerland, is a leading provider of innovative hearing care solutions. The Group operates through its core business brands Phonak, Unitron, Hansaton, Advanced Bionics and AudioNova. Sonova offers its customers one of the most comprehensive product portfolios in the industry – from hearing instruments to cochlear implants to wireless communication solutions.
Pursuing a unique vertically integrated business strategy, the Group operates through three core businesses – hearing instruments, audiological care and cochlear implants – along the entire value chain of the hearing care market. The Group’s sales and distribution network, the widest in the industry, comprises over 50 own wholesale companies and more than 100 independent distributors. This is complemented by Sonova’s audiological care business, which offers professional audiological services through a network of around 3,500 locations in 19 key markets.
Founded in 1947, the Group has a workforce of over 14,000 dedicated employees and generated sales of CHF 2.76 billion in the financial year 2018/19 as well as a net profit of CHF 460 million. Across all businesses, and by supporting the Hear the World Foundation, Sonova pursues its vision of a world where everyone enjoys the delight of hearing and therefore lives a life without limitations.
For more information please visit www.sonova.com and www.hear-the-world.com.
Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH0012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.