Staefa, Switzerland — Sonova Holding AG has appointed Hartwig Grevener as its new CFO. The 45-year-old German citizen is currently CFO of Jet Aviation, a business group of General Dynamics. Grevener will officially start on August 1, 2012.

Grevener is reported to have an extensive track record in executive finance roles, within both privately owned enterprises and large corporations.

In addition to the CFO announcement, Sonova said that it had permanently appointed Andi Vonlanthen as GVP Research and Development. He has held this position adinterim since April 2011.

The appointments mark a new beginning for the hearing aid manufacturer. In the spring of 2011, an insider trading investigation at Sonova prompted the resignations of three of Sonova’s top executives, including former CFO Oliver Walker.

Paul Thompson (pictured) will remain interim CFO until Grevener joins the company in August. He took over this role on March 30, 2011, following the departure of Walker. After ensuring a smooth transition, Thompson will resume his role as GVP Corporate Development.

Lukas Braunschweiler, CEO of Sonova Holding AG, commented in the press statement, "Hartwig Grevener has successfully held senior finance positions in both listed companies and those that were held by private equity investors. His background and long experience in finance and business administration, as well as his training in engineering, will benefit him in understanding our business and the technology of our products. His focused and pragmatic approach, as well as dedication to his work and team, fit well with the culture and management approach of our company.”

As CFO of Jet Aviation Group, Grevener has been responsible for finance, IT, and risk management and compliance. During his tenure, the company reportedly experienced strong organic growth and expanded its footprint to Brazil, China, and Russia.

Before joining Jet Aviation, Grevener was CFO for the European operations of Gate Gourmet, a global airline catering firm. He holds a diploma in business administration and mechanical engineering from the University of Berlin, as well as a PhD in business administration from the University of St Gallen.

Grevener said, "I consider myself to be a full-fledged CFO, but I am also an engineer with great interest in new technologies. As CFO of Sonova, I will be able to combine both of these passions. I am really looking forward to becoming part of the Sonova success story."

"Paul Thompson took on the responsibility of interim CFO at a time when the company was in a difficult situation. He made a huge contribution to regaining the trust of the financial community in our company. For this outstanding performance and his loyalty to Sonova, we owe him our gratitude,” commented Braunschweiler.

Andi Vonlanthen’s permanent appointment as GVP Research and Development follows after he was appointed as interim group vice president in April 2011. Since 2004, he has been responsible for the Group System Integration department.

SOURCE: Sonova