PRESS RELEASE
1/3

SENNHEISER GROUP INTRODUCES NEW EXECUTIVE MANAGEMENT BOARD
The family-owned company starts 2023 with a new management teamWedemark. January 23, 2023 – Following the realignment of the company with a focus on
the professional audio business, the Sennheiser Group is entering 2023 with a newly
formed management team. The audio specialist’s new Executive Management Board
includes representatives from the three business units Pro Audio, BusinessCommunication and Neumann, as well as Supply Chain, Corporate Functions andDevelopment. Together with Co-CEOs Daniel and Andreas Sennheiser, the Boardmembers will implement the strategic goals of the Sennheiser Group.

As of January 1, 2023, the operational business of the Sennheiser Group will be managed by ateam of six: The new Executive Management Board (EMB) includes Greg Beebe (ExecutiveVice President Professional Audio), Ron Holtdijk (Executive Vice President BusinessCommunication), Ralf Oehl (CEO Georg Neumann GmbH), Steffen Heise (CFO), Dr. Andreas
Fischer (COO) and Markus Redelstab (CTO). Peter Claussen and Thomas Weinzierl, who werepreviously COOs responsible for Professional Business and Supply Chain, will also remain onthe EMB before their respective retirements in the course of the years 2023 and 2024. In theintervening period, they will gradually hand over their operational tasks and extensive
knowledge to the new EMB. In the future, Co-CEOs Dr. Andreas and Daniel Sennheiser will
primarily focus on corporate management and strategy development and devote more time tocustomers, while the other EMB members will manage the operational business. Yasmine
Riechers and Mareike Oer complete the leadership of the Sennheiser Group as an extended
management team, representing the Corporate Development Office and Brand & CorporateCommunication.

PRESS RELEASE
2/3

The new management team of the Sennheiser Group, consisting of Co-CEOs, EMB and extended EMB (from left to right): Steffen Heise,Markus Redelstab, Dr. Andreas Sennheiser, Yasmine Riechers, Dr. Andreas Fischer, Ralf Oehl, Greg Beebe, Ron Holtdijk, Mareike Oer,
Daniel Sennheiser"With the integration of the business units into the EMB, our customers are moving even more
into focus," explains Co-CEO Andreas Sennheiser. "In the future, their very different needs will
be represented at the highest management level and included in all decisions, enabling us toact even closer to the market." The inclusion of product development into the direct scope of
the EMB also reflects the great importance of this area and the associated efforts to aligninnovations and new technologies even more closely with customer needs. And by dovetailingall central functions with the business units, the different perspectives will be brought
together in a new, strong management team.

Team spirit and collaborative leadership"With this step, we are adapting our management structure to our new corporate positioning
with a focus on the Professional Business," explains Co-CEO Daniel Sennheiser. "At the sametime, we are further developing our leadership culture – in line with our corporate culture." TheCo-CEOs have already been leading the family-owned company in a dual leadership as part ofa management team since 2013. The new set-up, whose introduction was accompanied byPeter Claussen, is also shaped by this management philosophy: "We are firmly convinced thatrigid hierarchies in corporate management are outdated. Just as we as Co-CEOs share overall
responsibility for our family-owned company, we will also shape the path for Sennheiser in theexpanded management team," said Andreas Sennheiser. "After all, the most importantguarantor of our future success is the people who work together worldwide under the umbrella

PRESS RELEASE
3/3of the Sennheiser Group. Our shared culture and our passion for what we do unite us. With thenew EMB setup, we are also reflecting this ethos in our corporate management."

A successful business year and further investments
As part of its focus on professional audio business, Sennheiser had announced investments inthis area in line with its new corporate strategy, which are now being implemented on a stepby step basis. For example, a new PCB assembly line went into operation at the main site in
Wedemark near Hanover at the end of 2022. Further investments in development and in theproduction site in Romania are planned.

Even though the final results will not be available until later in the year, an initial very positive
assessment can already be made for 2022: Sennheiser was again able to record significant
growth last year. This was even higher than the previous year's growth - despite the difficult
global economic climate with inflation, supply chain bottlenecks, rising costs and geopoliticalevents affecting markets around the world. Co-CEO Daniel Sennheiser sums up: "We are on
the right track with our strategy – these results show that very clearly. And we have clear
goals for the future of the Sennheiser Group. We know our strengths and we are consistently
expanding them. The newly formed EMB will pursue these goals together. We therefore look to2023 with a great deal of confidence, and we enter this year with a strong, motivatedmanagement team of which we are very proud."

About the Sennheiser Group
Building the future of audio and creating unique sound experiences for our customers - this isthe aspiration that unites the employees of the Sennheiser Group worldwide. The independent
family-owned company Sennheiser was founded in 1945. Today, it is managed in the third
generation by Dr. Andreas Sennheiser and Daniel Sennheiser and is one of the leading
manufacturers in the field of professional audio technology. Within the Sennheiser Group areGeorg Neumann GmbH (Berlin, Germany), manufacturer of studio-grade audio equipment;
Dear Reality GmbH (Düsseldorf, Germany), known for its binaural, Ambisonics, andmultichannel encoders with realistic room virtualization; and Merging Technologies SA(Puidoux, Switzerland), specialist in high-resolution digital audio recording systems.
sennheiser.com | neumann.com | dear-reality.com | merging.com

Press Contact
Sennheiser Group
Mareike Oer
Brand & Corporate Communication
T +49 (0)5130 600-1719
mareike.oer@sennheiser.com