February 21, 2008

COPENHAGEN, Denmark — GN Store Nord announces the appointment of Mike van der Wallen as the new CEO of GN ReSound and the related GN Otometrics operations. Mike van der Wallen will also join GN’s Executive Management, and he will rank alongside Toon Bouten, the CEO of GN’s other business unit, GN Netcom.

Mike van der Wallen will take up his position on March 1 after which, as previously announced, the current CEO, Jesper Mailind, will resign. However, Mailind will make his services available to the company during a transition period.

Van der Wallen is currently the managing director and founder of the executive coaching services company Inspiring Management in München, Germany. Since March 2007, he has been a member of GN’s Supervisory Board, thus having a current and valuable knowledge of GN ReSound, according to the company.

Prior to founding Inspiring Management, Van der Wallen was a corporate VP of Sony Ericsson and head of its EMEA Region from 2001 to 2005. As a head of Sony’s global GSM telecommunications business, Van der Wallen was one of the key forces in establishing the joint venture between Sony and Ericsson in terms of strategy, organizational architecture, and branding. Under his leadership, Sony Ericsson established its activities in more than 60 countries across EMEA and reached a solid double-digit market share in the region.

Van der Wallen brings to GN ReSound his extensive experience in product life-cycle management, sales and marketing, consumer electronics, as well as substantial international leadership experience gained both in the United States and in several countries across Europe. As a leader, he has a proven track record in serious turnaround situations, where his ability to execute, his strong people management skills and his persuasive powers as an inspiring leader have delivered impressive results, reports the company. These unique skills in 2005 prompted him to establish his own executive coaching company after 17 years with Sony and Sony Ericsson.

“Mike has a significant task ahead of him in bringing GN ReSound back on a winning course and realize the great potential in the business,” says Mogens Hugo, chairman of GN’s Supervisory Board. “Mike was on our radar from the get go of the search process. Needless to say, since he was already a member of our board, we have made an extra effort to search the market thoroughly for potential candidates here and abroad. We have interviewed several very strong candidates, and we are confident that Mike is the best man for the job.”

Van der Wallen, age 42, has a degree in Business Administration from European University in Antwerp, is married, and has two children. Prior to his work with Sony, he worked as an international commodities trader in The Netherlands. He is a member of the Advisory Board for the software companies SEVEN Networks Inc, Redwood City, Calif, and Miyowa SA, Paris, France, as well as a member of the Supervisory Board of GN Store Nord. Following his appointment as CEO of GN ReSound in March, he will resign from GN’s Supervisory Board at the company’s Annual General Meeting.

GN ReSound’s management will be further strengthened by the future appointment of a CFO.

Source: GN Store Nord