Bang & Olufsen

Board/Management Information • Dec 14, 2018

Bang & Olufsen appoints Nikolaj Wendelboe as CFO

Bang & Olufsen a/s has appointed Nikolaj Wendelboe as new CFO, Executive Vice President and member of the Executive Management Board. Nikolaj Wendelboe will start at Bang & Olufsen no later than July 2019. Nikolaj replaces Anders Aakær Jensen, who left the company 30 November 2018. Until Nikolaj joins the Executive Management Board, Senior Director, Finance & SDO, Marlene Richter Christensen will head the Finance team with reference to CEO Henrik Clausen.

Nikolaj Wendelboe (43) comes from Arriva Danmark a/s where he has been CEO for four years and prior to that he was CFO for three years. Before joining Arrriva Danmark a/s, he spent nine years with NNIT a/s, the last five years as CFO and Corporate Vice President. Nikolaj holds an M.Sc. in Economics from University of Copenhagen.

"We look forward to welcoming Nikolaj Wendelboe, who comes to Bang & Olufsen with extensive financial and senior management experience," says CEO Henrik Clausen. "In recent years, we have transformed Bang & Olufsen's operating model and financial setup, and we believe that Nikolaj is the right person to head and develop this area further."

Bang & Olufsen a/s' Executive Management Board will hereafter consist of the following members:

Henrik Clausen, CEO and President

John Mollanger, President and EVP, Head of Brand & Markets Snorre Kjesbu, EVP, Head of Product Creation & Fulfilment (Will start no later than 1 March 2019) Nikolaj Wendelboe, EVP, Head of CFO area (Will start no later than 1 July 2019)

Henrik Clausen CEO

For further information, please contact:

Jens Gamborg Head of Group Communications Tel: +45 24969371

Malene Richter Christensen Sr. Director, Global Finance & SDO Tel: +45 29741609