Össur hf: CEO Retirement and Succession Plan

Announcement no. 18/2021

STOCKHOLM, Dec. 9, 2021 /PRNewswire/ -- Jon Sigurdsson to retire after 26 years as Össur President and CEO, Sveinn Sölvason appointed President and CEO successor

Jon Sigurdsson has decided to retire from his position as President and CEO of Össur. The Board of Directors has appointed Össur CFO, Sveinn Sölvason, to succeed as President and CEO effective 1 April 2022.

"On behalf of the Board of Directors, the executive management team, and Össur's 4,000 employees, we want to sincerely thank Jon for his leadership over his more than two and a half decades with the Company," said Niels Jacobsen, Össur Chairman of the Board. "A steadfast leader with a strong strategic vision, Jon has successfully guided Össur since 1996. Under his leadership, Össur has grown from being a niche company with USD 5 million in revenue and 40 employees, to a leading global medical device company with an annual revenue of approximately USD 700 million and 4,000 employees worldwide. In addition, Jon spearheaded more than 60 acquisitions over the years and has played an instrumental part in transforming the landscape of the O&P industry. I am personally very grateful to Jon for his contribution."

Sveinn Sölvason has been with Össur since 2009 and CFO since 2013. "I am grateful that Sveinn has accepted this new challenge. He has a proven track record within Össur and is poised to lead the organization to further success," said Niels Jacobsen.

"I congratulate Sveinn on his appointment and look forward to working with him on the transition," said Jon Sigurdsson. "It has been an honor to lead Össur for the past 26 years. I have had the pleasure of working with a dedicated team of employees, customers and end-users alike, all of whom have made Össur the successful business it is today. I look forward to watching Össur continue to flourish in the years to come."

"I appreciate the trust given by the Board of Directors and am pleased to accept the opportunity of serving Össur in a new role as the President and CEO," said Sveinn Sölvason. "Össur is well positioned to continue to improve people's mobility with industry leading innovation and solutions that create value for our customers and shareholders alike. Together with an exceptional team of Össur employees worldwide, we will continue to support Life Without Limitations."

The search for a new CFO will commence immediately.

Further information

Edda Lára Lúðvígsdóttir, Investor Relations Director, eludvigsdottir@ossur.com, +354 844 4759

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About Össur

Össur (Nasdaq Copenhagen: OSSR) is a global leader in non-invasive orthopaedics that helps people live a Life Without Limitations. A recognized "Technology Pioneer" with a rich 50-year history, Össur focuses on improving people's mobility through the delivery of innovative technologies in Prosthetics and Bracing & Supports. Significant investment in research and development have led to over 2,000 patents, award-winning designs, successful clinical outcomes, and consistently strong market positions. Össur is signatory to the UN Global Compact, UN Women's Empowerment Principles, contributes to the UN Sustainable Development Goals and will be carbon neutral in 2021. Össur operates globally and employs around 4,000 employees. www.ossur.com

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SOURCE Össur hf

Company Codes: Bloomberg:OSSR@DC, ISIN:IS0000000040, RICS:OSSR.CO, Stockholm:OSSR

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