Press Release

Sennheiser

Sennheiser strengthens innovation and strategic collaboration as key executives appointed to head two major strategic fields

· Old Lyme, CT – Sennheiser has been a family-owned company for three generations now and true to its nature, it has always been known for its long-term strategy based on sustainable growth and independence. To ensure its independence and to strengthen its innovative capability, Sennheiser has decided to create two corporate entities dedicated to strategic collaboration and research and innovation. These entities will be headed by two top-level managers with many years of experience in the company, Paul Whiting and Volker Bartels. “I am very happy that Paul and Volker agreed to devote their expertise to the company in these crucial fields. We could not think of anyone better able to provide us with long-term vision regarding strategic collaboration and innovation,” says Daniel Sennheiser, CEO. “I am excited to work with Paul and Volker in their new roles. They have the full support of Sennheiser’s entire executive board including my brother’s and mine,” says Andreas Sennheiser, CEO.

Strategic Collaboration and Innovation both require long term business experience as well as the ability to take a high level, visionary view of what’s happening today, along with what will happen in future. To ensure the needed level of focus the subjects need to be detached from the daily business, but work within the company strategy. It is for this reason that Paul Whiting and Volker Bartels have decided to step down from the EMB (Executive Management Board) to concentrate on these two tasks that will help us to shape the company for the challenges ahead.

After many successful years in the operational business, these two senior managers deserve all the respect for their decision. The company and its shareholders are deeply grateful for their valued contribution and leadership over many years, and look forward to their continued contribution to the success of Sennheiser in their new roles.

Both appointments will take effect on January 1st, 2015.