GSN GN Store Nord

GN Store Nord announces that René Svendsen-Tune, who recently turned 67, will step down after eight successful years as CEO of GN Audio to devote more time to his board career.

As new CEO of GN Audio, GN is pleased to announce the appointment of Peter Karlstromer (51), who will join GN and assume his new role as of January 16, 2023.

Peter Karlstromer joins GN from the Securitas Group, where he was Divisional President, Europe. Prior to this, Karlstromer has a long leadership track record within telecom and technology and has held several international senior leadership positions in Cisco Systems. Before his Cisco career he was a partner with McKinsey & Company, working with multiple aspects of technology and telecoms around the world (see brief resume for Peter Karlstromer at the end of this announcement).

With this leadership transition, GN’s Board of Directors wishes to reconfirm GN Audio’s strategy and plans. Together with the strong leadership team, talented employees, and agile organization, the Board is convinced that Peter Karlstromer is the right leader to continue GN Audio’s development short and long term. To ensure a seamless transition, the Board is pleased that René Svendsen-Tune has agreed to stay on well into 2023. The Board is confident that this change of CEOs will have no impact on GN Audio’s ability to execute in line with its communicated plans.

Chairman of GN’s Board of Directors, Per Wold-Olsen, comments: “During René Svendsen-Tune’s leadership, GN Audio has grown from a marginal DKK 3.2 billion audio-only company to a world-leading DKK 12 billion company with market leading positions in enterprise audio and video collaboration solutions, as well as being positioned and perceived as an innovation leader in this space. I would like to sincerely thank René for his eight years of service as CEO and, before that, eight years of service as a member of the Board. René is handing over a company in excellent shape. At the same time, the Board and I are pleased that Peter Karlstromer has accepted the opportunity of taking GN Audio further. The current world situation is challenging, but we and Peter see great opportunities for the company’s future development.”

Peter Karlstromer comments: ”GN Audio has under René Svendsen-Tune’s leadership grown to be a recognized leader in audio and video solutions for the Enterprise and Consumer markets. I look forward to, together with what I believe is a very strong team and organization, continuing this journey and shaping an exciting future for GN Audio with benefits for customers, employees and shareholders.”

Resume on Peter Karlstromer:Born: 1971Nationality: SwedishEducation: M.Sc., Management, Business Administration and Economics, Lund University; M.Sc., Electrical and Electronics Engineering, Faculty of Engineering at Lund University

Career:2019 - 2021: Divisional President, Europe, Securitas Group2012 - 2019: Cisco Systems2017 - 2019: Senior Vice President, EMEAR Service Providers2015 - 2017: Senior Vice President, Northern Europe2012 - 2015: Vice President, Northern Europe1997 - 2012: McKinsey & Company2007 - 2012: Partner Technology and Telecoms, Middle East, Africa and Asia1997 - 2007: Partner Technology and Telecoms, Europe

For further information, please contact:

Investors and analystsAnne Sofie Staunsbæk VeyheVice President – Investor Relations, Treasury and M&ATel: +45 45 75 85 06

or

Rune SandagerSenior Director – Investor Relations Tel: +45 45 75 92 57 Press and the media Steen Frentz Laursen Vice President – Group Communication Tel: +45 20 65 34 20

or

Kim Ege MøllerHead of Global Media Relations & Corporate Public AffairsTel: +45 4575 0726 About GNGN facilitates communication between people through intelligent hearing, audio, video, and gaming technology. Inspired by people and driven by our passion for innovation, we leverage technologies to deliver unique user experiences that bring people closer through the power of sound and vision.

GN was founded more than 150 years ago with a vision to connect the world. Today, we proudly honor that legacy with our world-leading expertise in the human ear, audio, video and speech, wireless technologies, software, miniaturization, and collaboration with leading technology partners. GN's solutions are marketed by the brands ReSound, SteelSeries, Jabra, Beltone, Interton, BlueParrott, Danavox and FalCom in 100 countries. Founded in 1869, the GN Group employs 8,000 people and is listed on Nasdaq Copenhagen (GN.CO).

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• Announcement 18 - GN announces appointment of new CEO in GN Audio

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