CORPORATE GOVERNANCE

Information on Executive Management and Board of Directors and the statutory report on corporate governance.

BOARD OF DIRECTORS

OLE ANDERSEN

(1956)

Chairman
Year of first appointment, 2009 State-authorised public accountant M.Sc. (Economics and Business Administration)

Directorships and other offices:
Chr. Hansen Holding A/S (Chairman), Danske Bank A/S (Chairman), NASDAQ OMX Nordic (Member of the Nomination Committee)

This member is considered independent. Chairman of the Remuneration and Nomination Committees

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 84,650)

JUHA CHRISTENSEN

(1964)

Deputy Chairman
Year of first appointment, 2016

Directorships and other offices:
Cogniance Inc. (Chairman), Cloud- Made Ltd. (Chairman), Netcompany A/S, The Pad, Inc. (Chairman)

This member is considered independent. Chairman of the Technology Committee, Member of the Remuneration Committee

Number of shares in Bang & Olufsen a/s at the end of the year : XX (2016/17: 0)

ALBERT BENSOUSSAN

(1959)

Year of first appointment, 2014 Kering (CEO of Luxury – Watches & Jewelry activities), Master of Business Administration (MBA)

Directorships and other offices:
Sowind Group SA (Chairman), QEELIN HOLDING LUXEMBOURG (Director), POMELLATO S.p.A. (Director), Sigatec (Board member), MANUFACTURE ET FABRIQUE DE MONTRES ET CHRONOMETRES, ULYSSE NARDIN LE LOCLE SA (President), Boucheron Holding SAS (Membre comité stratégique), Boucheron Joaillerie (USA), Inc. (Director), Boucheron Suisse SA (Board Member), Luxury Timepieces & Jewellery outlets Limited + USA, Inc. (Director and President), BOUCHERON RUS 000 (Director), Kering (Macau) Watches and Jewelry Limited (Director)

This member is considered independent. Member of the Audit Committee

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 3000)

BRIAN BJØRN HANSEN

(1972)

Year of first appointment, 2015 Employee-elected Senior Business Manager, Smart Home

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 480)

GEOFF MARTIN

(1969)

Year of first appointment, 2015 Employee-elected Technical Specialist, Sound Design

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 728)

IVAN TONG KAI LAP

(1960)

Year of first appointment, 2016 Sparkle Roll Group Limited (Chairman and Executive Director), Bachelor's Degree in Business Administration

Directorships and other offices:
Grand Concept Limited Hong Kong (Director), Sparkle Roll Group Limited incl. sixteen 100% owned subsidiaries (Executive Director until 31 December 2017)

This member is considered independent. Member of the Audit Committee

Number of shares in Bang & Olufsen a/s at the end of the year: 2,600 (2016/17: 0)

JESPER JARLBÆK

(1956)

Year of first appointment, 2011 state-authorised public accountant M.Sc (Economics and Business Administration)

Directorships and other offices:
Basico Consulting Group (Chairman), Catacap Management ApS (Chairman), Frokost.DK Aps (Chairman), GroupCare Group A/S (Chairman), Falcon Fondsmæglerselskab A/S (Chairman), Happy Helper A/S (Deputy chairman), Berlin Invest 2017 ApS (Board Member), Materieludlejning Holding Group ApS (Chairman), A-Solutions A/S (Chairman), Polaris III Invest Fonden (Board Member), Earlbrook Holding Group A/S (Director and Board Member), Smartshare systems A/S (Board Member), Business Angels Fond - London II A/S (Director and Board member), Bookboon Corporate Group A/S (Chairman), Lyngsoe systems holding A/S (Board Member), Active Inspiration Technologies Ltd (Board member)

This member is considered independent. Chairman of the Audit Committee, Member of the Nomination Committee and Technology Committee

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 6,500)

MADS NIPPER

(1966)

Year of first appointment, 2014 Grundfos Holding A/S (Group President/CEO), M.Sc. Business Administration

Directorships and other offices:
Danish Crown A/S (Deputy chairman) This member is considered independent. Member of the Nomination Committee

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 5,770)

MAJKEN SCHULTZ

(1958)

Year of first appointment, 2013 M.Sc. Political Science PhD Business Administration

Directorships and other offices:
Danish Crown A/S (Board Member), Danske Spil A/S (Board Member), Realdania (Board Member), VCI Holding ApS (Director), Professor of Management at Copenhagen Business School, International Research Fellow, Oxford University

This member is considered independent. Member of the Remuneration Committee

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: 5,300)

SØREN BALLING

(1971)

Year of first appointment, 2017 Employee-elected Production Engineer, Mechanics

Number of shares in Bang & Olufsen a/s at the end of the year: XX (2016/17: XX)

EXECUTIVE MANAGEMENT BOARD

HENRIK CLAUSEN

(1963)

President & CEO
Employed since 1 July 2016
MBA from INSEAD, Paris
BA International Trade, Copenhagen Business School
MSc Electrical Engineering, Technical University of Denmark

Directorships*
None

Number of shares in Bang & Olufsen a/s at the end of the year: 36,800 (2016/17: 0)

ANDERS AAKÆR JENSEN

(1974)

Executive Vice President & CFO
Employed since 1 August 2014
Cand Oecon, Economics IMD (International Institute for Management Development) - Business Programs

Directorships*
None

Number of shares in Bang & Olufsen a/s at the end of the year: 17,516 (2016/17: 7,200)

JOHN MOLLANGER

(1970)

Excecutive Vice President Brand & Products
Employed since 18 April 2017
Bachelor in International Business from I.C.L. Business School in Lyon
Executive education in Strategic Marketing from Stanford University, USA.

Directorships*
None

Number of shares in Bang & Olufsen a/s at the end of the year: 0 (2016/17: 0)

EXECUTIVE MANAGEMENT

Henrik Clausen, President & CEO

Anders Aakær Jensen, Executive Vice President and CFO

John Mollanger, Executive Vice President Brand & Products

Board of Directors

STATUTORY REPORT ON CORPORATE GOVERNANCE

This annual corporate governance report for Bang & Olufsen a/s forms part of the Management Review in the annual report and covers the financial year.
2017/18
2016/17
2015/16
2014/15

BOARD COMMITTEE CHARTERS

Nomination Committee
Audit Committee
Remuneration Committee