New CEO in GN ReSound

(February 12, 2008) 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 (42 years) will take up his position on March 1, 2008, after which, as previously announced, the current CEO, Jesper Mailind, will resign. However, Jesper Mailind will make his services available to the company during a transition period. Today, Mike van der Wallen is the Managing Director and founder of the executive coaching services company Inspiring Management in München, Germany. Since March 2007, Mike van der Wallen has been a member of GN’s Supervisory Board, thus having a current and very valuable knowledge of GN ReSound.

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 Mike 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.

Mike 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 US and in several countries across Europe. As a leader, Mike van der Wallen 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. 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,” says Mogens Hugo.

GN ReSound’s management will be further strengthened by the appointment of a CFO. The search is in progress.

Mike van der Wallen will be granted an options scheme, which provides him with a share in the expected value growth in GN ReSound and implicitly GN Store Nord. In accordance with the section 69b of the Danish Public Companies Act the Supervisory Board will present the principles of this and GN Store Nord’s other options schemes at the Annual General Meeting on March 11, 2008. In addition, on March 1, 2008, Mike van der Wallen will be granted 100,000 stock options in GN Store Nord A/S. The strike prize will be determined at that time.

Following the appointment as CEO of GN ReSound Mike van der Wallen will resign from GN’s Supervisory Board at the Annual General Meeting.

Resume - Mike van der Wallen
Born: April 21, 1965, in Den Haag, the Netherlands
Nationality: Dutch.
Family: Married to Murielle; two children, a boy, Thom of 10 and a girl, Eline of 9.
Education: Degree in Business Administration, European University, Antwerp, Belgium (1987), Advanced Leadership Program, IMD and Executive Management Program, IMD.
2005- : Founder and Managing Director of Inspiring Management (IM) in Munich, Germany.
2001-2005: Corporate Vice President, Head of EMEA, Sony Ericsson, Munich, Germany.
2000-2001: President, Sony Digital Telecommunication Co., Munich, Germany (the global GSM business).
1998-1999: Vice President, Marketing & Sales, Sony Digital Telecommunication Co., San Diego, USA (the global CDMA business).
1996-1998: Director, Sony Personal Video, Europe.
1994-1995: General Manager, Marketing, Sony’s Consumer Video Division, Europe.
1988-1994: Various positions in sales and marketing with Sony in the Netherlands.
1987-1988: International Commodity Trader, Continental Grain Company, the Netherlands.

Non-Executive Assignments: Mike van der Wallen is a member of the Advisory Board for the software companies SEVEN Networks, Inc. in Redwood City, USA and Miyowa S.A., Paris, France, as well as a member of the Supervisory Board of GN Store Nord.

For further information, please contact:

Jens Bille Bergholdt
VP, Investor Relations

GN Store Nord A/S
Tel.: +45 45 75 02 70