Bang & Olufsen

Board/Management Information • May 1, 2014

Struer, 2014-05-01 09:00 CEST (GLOBE NEWSWIRE) -- Company Announcement 13.15

Bang & Olufsen has appointed Anders Aakær Jensen (39) new Chief Financial
Officer (CFO). He will join Bang & Olufsen’s Executive Management together with
CEO Tue Mantoni.

Anders Aakær Jensen joins from a position as Group Senior Vice President
Corporate Finance at Grundfos Holding A/S. Anders Aakær Jensen has had a
13-year long career with Grundfos and held various positions in Denmark and
internationally within the fields of finance and accounting.

”We are very pleased that Anders will be part of our team and we are looking
forward to an exciting and productive cooperation. Anders possesses strong
leadership skills and has a long and impressive career with one of Denmark’s
largest industrial companies. He is experienced in operating in a truly global
and complex organisation. His career has been focused on financial roles with a
strong commercial focus and he has great experience in implementing global
financial performance management systems. We believe that Anders is a great fit
and that he will be able to support the continued transformation of Bang &
Olufsen” says Tue Mantoni.

Anders Aakær Jensen will take up the position no later than August 15, 2014.

Tue Mantoni

CEO

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