Demant A/S Chairman Niels B. Christiansen will step down next year, the Danish hearing-aid maker said Thursday, concluding a 17-year tenure on the board.
The departure follows a significant period for the company, which recently made its largest-ever acquisition and subsequently lowered its full-year financial forecast.
Christiansen, who has chaired the board since 2017, will not stand for re-election at the annual general meeting on March 5, 2026, according to the company.
He has accepted a proposal for election to the board of directors of medical device company Coloplast A/S.
"There is seldom a good time to step down," Christiansen said in a statement, adding that his decision followed the company's recent strategic moves, including the acquisition of KIND Group.
In June, Demant announced a 700 million Euro deal to buy German hearing-care retailer KIND Group.
Two months later, the company cut its 2025 outlook, citing soft market conditions and intense competition.
Demant said its board will now begin the search for a successor.
Christiansen, who is also the chief executive of Lego A/S, will continue as chair until the 2026 meeting.
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