The GN Group, a global provider of intelligent audio and hearing solutions, announced its board of directors has executed the next step of integration and transition into a one-company setup, simplifying GN Group’s governance structure to drive further market success and shareholder value creation. This includes a transition into one company with one board, one group CEO, and one group CFO.
In recent years, GN has increasingly expanded collaboration and integration across its two business divisions, GN Hearing and GN Audio, thus benefiting from joint innovation and leveraging combined scale to drive growth and profitability, the company says.
“The time has come to further align into one company,” says Chair of the Board Jukka Pertola. “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.”
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The board has appointed Peter Karlstromer as the group CEO. In the coming months Karlstromer will form the new executive leadership team and design the new organizational structure of GN.
“I am proud to take on the role as Group CEO,” says Karlstromer. “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 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, the company says.
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.
“Four years ago we set out to modernize hearing care and enable everybody to find a hearing solution that fits their lifestyle,” says Aabo. “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.”