Struer, 2014-06-26 14:00 CEST (GLOBE NEWSWIRE) -- Company Annoucement no. 14.05

Bang & Olufsen has appointed Stefan Persson (47) new Chief Operating Officer (COO). He will join Bang & Olufsen’s Executive Management Board together with CEO Tue Mantoni and CFO Anders Aakær Jensen who joins Bang & Olufsen on August 15, 2014.

Stefan Persson joins from a position as VP Head of Development EU and Head of BU Companion at Sony Mobile Communications. Stefan Persson has more than 16 years’ experience from various product management and product development roles in Ericsson, Sony Ericsson and latest Sony Mobile Communications. He has managed product development in China, Sweden, USA and Japan as well as been responsible for Sony Mobile Communications’ mobile accessories business. In his role as COO at Bang & Olufsen, Stefan Persson will be responsible for Product Management, Research & Development, Production and Supply Chain Management.

”I am very pleased that Stefan will be part of our team and I am looking forward to an exciting and productive cooperation. Stefan possesses strong skills within product management and product development and has demonstrated strong leadership skills across multiple geographies and cultures. Over the past three years we have significantly lifted the innovation level in Bang & Olufsen, and we believe that with Stefan on our team, we will be in a great position to continue this development,” says Tue Mantoni.

Stefan Persson will take up the position no later than October 1, 2014.

For further information, please contact:

Tue Mantoni                                   Claus Højmark Jensen

CEO                                               Investor Relations Manager

Phone: +45 96 84 50 00            Phone: +45 23 25 10 67