Ad hoc: GN Store Nord A/S: GN announces changes to Executive Management

GN Store Nord announces that Jakob Gudbrand has informed the company that he needs to resign from his position as CEO of GN Hearing for personal and family reasons. Gitte Pugholm Aabo, currently member of the Board of Directors of GN Store Nord, takes on the role as CEO of GN Hearing.  Having joined GN Store Nord's Board in 2018, Gitte Pugholm Aabo has solid knowledge of GN Hearing's business. She brings extensive global leadership experience and extensive knowledge within international management, finance, IT, sales and marketing as well as deep insights into building digital communities. Most recently, Gitte served as CEO of Leo Pharma.  "I am both proud and humble to take on the job as CEO of GN Hearing. From my time on the Board, I know that the company has a strong product portfolio and a strong global organization. GN Hearing has a long and proud history of innovation and is now standing on a very strong platform," says Gitte Pugholm Aabo. "As I said after the last investor call: GN is a fantastic place to work and I am proud of my colleagues and what they have contributed. However, for personal and family reasons I have come to the conclusion that it is right for both GN and myself that I resign. I wish GN and my colleagues all the best in their journey ahead," says Jakob Gudbrand. "In thanking Jakob for his contribution to GN, I am delighted that Gitte Pugholm Aabo has accepted to succeed Jakob. Gitte has a proven track record of innovation, building and transforming a global business and she will be able to ensure continuation and build on the great momentum we have going in GN Hearing. Gitte has a strong mindset for customer focus, innovation and growth. With her as the CEO, GN Hearing will have a strong leader, who will further GN Hearing's continued growth and competitiveness," says Chairman Per Wold-Olsen. Gitte Pugholm Aabo will join GN Store Nord's Executive Management together with René Svendsen-Tune, CEO of GN Audio and GN Store Nord, and Marcus Desimoni, CFO of GN Hearing and GN Store Nord. René Svendsen-Tune will also take on the added responsibility of overseeing and facilitating the future direction for GN's cross-company technology and applications roadmap, including AI. "With the tremendous innovation and technology driven turnaround that René has orchestrated and delivered on for GN Audio, he will in this capacity be instrumental in taking GN's technology agenda further into future applications and harvesting innovation synergies across GN," says Per Wold-Olsen. These changes are effective as of today. Resume on Gitte Pugholm Aabo: Born: 1967 Nationality: Danish Education: Bachelor's degree in Economics, HD in Business Administration, MBA at Copenhagen Business School Career: 2018 - 2019: Board member and chairman of the Audit Committee, GN Store Nord 2008 - 2019: Chief Executive Officer, LEO Pharma 2007 - 2007: Deputy Group Managing Director, LEO Pharma 2001 - 2006: Senior Vice President, Finance & IT, LEO Pharma For further information, please contact: Investors and analysts Morten P. Toft Vice President - Investor Relations & Treasury Tel: +45 45 75 46 07 Or Rune Sandager Senior Manager - 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 Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs Tel: +45 45 75 02 55 About GN Group The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound. GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO). Visit our homepage GN.com, get to know our innovation and leadership, and connect with us on LinkedIn, Facebook and Twitter.