Shareholder information


The Össur stock price decreased by 7% in 2020, compared to an increase of 36% of the OMXC25GI index, a leading index for the Danish equity market. Össur returned USD 18.6 million to its shareholders in 2020, in the form of USD 9.3 million share buybacks and USD 9.3 million in dividends.

Össur‘s stock is listed on Nasdaq Copenhagen and was the 25th largest company listed on Nasdaq Copenhagen when measured in terms of market value at year-end 2020.

Key information table

Market

Market

CPH (DKK)

ISIN

ISIN

IS0000000040

Ticker

Ticker

OSSR

Industry

Industry

Health Care

Nr. of shares

Number-shares

423,000,000

The share capital of Össur is ISK 423,000,000 nominal value, divided into the same number of shares. There is only one class of shares and all shares carry one vote.

Össur’s largest shareholder is William Demant Invest A/S (WDI) which held 52% of the total shares and 52% of the voting rights at year-end 2020. WDI has been invested in Össur since 2004. According to an announcement by WDI, their intention is to hold between 50-60% of Össur’s shares going forward. Apart from Össur, the fund’s investment activities include holdings in Demant, a leading provider of hearing aids, Vision RT, Vitrolife, Cellavision, Revenio, Jeudan, and Borkum Riffgrund.

In addition, ATP Pension Fund and The Pension Fund of Commerce had announced holdings above 5% in Össur at year-end 2020.

At year-end, about ~87% of Össur‘s shareholders were located in Scandinavia. The remaining ~13% of the shares are held by investors residing in other countries.

Shareholder information

*Source: William Demant Invest website

Ownership structure

  • The William Demant Invest A/S invests in companies whose business models and structures resemble those of Demant A/S, but are outside of Demant A/S' strategic sphere of interest which is hearing healthcare., education, culture and selected social areas.
  • When investing in new companies, William Demant Invest generally looks for the following industy and company traits:
    • Medtech/healtcare industries
    • Strong underlying market factors such as demographic trends and structural growth
    • Niche industries with consolidation potential
    • Companies and products with proof of concept and existing revenue, i.e. not biotechnology/clinical trials
    • Stable cash flow generation or the potential to achieve it in a short to medium term
Ownership Structure

Stock performance

Össur’s share price decreased by 7% in 2020, from DKK 52.3 per share at year-end 2019 to DKK 48.5 per share at year-end 2020. Össur’s market capitalization was DKK 20.5 billion (USD 3.4 billion) at year-end 2020 compared to DKK 22.2 billion (USD 3.3 billion) at year-end 2019.

Stock performance

Share buybacks

During 2020, Össur purchased 1,295,450 of own shares (approx. 0.3% of outstanding shares) under share buyback programs. The total purchase price was DKK 63 million (USD 9 million). The purpose of the share buyback programs is to adjust the capital structure in line with a desired capital level of 1.5-2.5x net interest-bearing debt to EBITDA outlined in Össur’s Capital Structure and Dividend Policy. It should be noted that the share buyback program was temporarily put on-hold on 17 March 2020 due to the impact of COVID‐19, as the net interest‐bearing debt to EBITDA ratio is temporarily above the level in the Capital Structure and Dividend policy. At year-end 2020, treasury shares totaled 902,277.

The Board of Directors will not propose to the Annual General Meeting 2021 to reduce the share capital by way of cancelling shares as Össur’s current shareholding will be utilized to meet share option obligations.

Dividends

During 2020, Össur paid out cash dividends in the amount of DKK 64 million (USD 9 million), corresponding to DKK 0.15 per share or 13% of net profit in 2019.

The Board of Directors will not propose to the Annual General Meeting in 2021 that Össur pays cash dividends for the financial year 2020 as the net interest‐bearing debt to EBITDA ratio is temporarily above the level in the Capital Structure and Dividend policy.

Share buybacks and dividends

Over the last five years, Össur has paid out USD 174 million to shareholders in the form of share buybacks and dividends.

Financial calendar

Annual General Meeting 8 March 2020
Interim Report Q1 2021 27 April 2021
Interim Report Q2 2021 22 July 2021
Interim Report Q3 2021 26 October 2021
Interim Report Q4 2021 and Annual Report for 2021 1 February 2022
Annual General Meeting 8 March 2022

According to the Articles of Association, the Annual General Meeting (AGM) shall be held before the end of April. The meeting is convened with at least three weeks’ notice. The AGM results are sent to the news system of Nasdaq immediately following the meeting and are also made available on the corporate website. Össur’s AGM will be held on 8 March 2021.

Investor relations

Össur’s policy is to disclose financial and corporate information to provide investors, analysts, and other stakeholders with comprehensive and accurate information to help them understand Össur’s current and expected outlook. Six sell-side equity analysts currently cover Össur.

Visit our website for financial reports, announcements, presentations, financial calendar, upcoming events, share information, and other information on Össur: ossur.com/investors

Contact Investor Relations
Tel.: +354 515 1300
e-mail: [email protected]

User Stories

Sandro Borges

Football (soccer) is the most popular sport in Portugal and the most practiced. With the national team often amongst the higher-rated teams in both Europe and the world, Portuguese children dream of joining the ranks of professional football. With equal parts hard work and natural talent, Sandro Borges would have an opportunity to live his dream and play professionally for his beloved Portugal. Unfortunately, a car accident at age 21 cut this dream short.

His injuries were serious and potentially life threatening. His left leg, damaged beyond repair, required immediate amputation.

“The first reaction was a state of shock…the consequences of what had just happened, knowing that I would never more able to run, walk, go out at night with my friends or pick up my son from school, had a significant impact and shook my confidence in myself.”

Despite his shock and sadness, Sandro promised himself that no matter how difficult, he would recover. He received his first prosthetic shortly after his surgery and began an aggressive rehabilitation effort.

“Above all, I wanted to get my life back and make up for lost time. So, I went back to the gym as often as possible and I concentrated all my efforts on recovery. I wanted to do better every time.”

Today, Sandro is a boxing trainer who uses Pro-Flex XC Torsion because, as he says, “it helps me move the way I want to move.” He continues to push himself in the ring and is an outspoken proponent of physical fitness, sport activities and a life without limitations.

“I lead a perfectly normal life, both personally and professionally. Life has given me the opportunity to try boxing after being a professional football player and I grabbed it, without doubts or hesitations.”

Corporate Governance


Recommendations on Corporate Governance

Össur applies the Danish Recommendations on Corporate Governance (“Recommendations”). The Recommendations are the best practice guidelines for companies admitted to trading on a regulated market in Denmark.

Each year the Board of Directors evaluates and decides to what extent the Company should comply with the Recommendations and consequently whether relevant rules, policies and processes should be adopted or amended. When reporting on corporate governance, Össur comments and provides information on each recommendation. In the few cases where Össur has decided to deviate from the Recommendations, the “comply or explain” principle is applied, and well-founded explanations are provided why the relevant recommendation is not considered appropriate or desirable for the Company.

Össur’s Corporate Governance Report is approved by the Board of Directors. The Report includes both the statutory statement on corporate governance as well as comments and information on each item in the Recommendations. The report is available here on Össur’s website.

Governance Structure

Shareholders’ Meetings

The supreme authority in Össur’s affairs is in the hands of lawful Shareholders’ Meetings, within the limits provided for in the Company’s Articles of Association and law.

At each Annual General Meeting the shareholders confirm the Company’s consolidated financial statements, approve the Company’s remuneration policy and decide on remuneration for the Board of Directors. The Board of Directors and an auditor are also elected at the Annual General Meeting, for a term of one year. Other resolutions are made on an ad-hoc basis, such as amendments to the Company’s articles of association (including capital reductions or authorizations for the Board of Directors to increase share capital) as well as authorizations to the Board of Directors (including to purchase own shares, initiate share buyback programs, or initiate share incentive programs).

Resolutions at Shareholders’ Meetings generally require a simple majority. However, resolutions to amend the Company’s Articles of Association usually require two-thirds of the votes cast and capital represented.

William Demant Invest A/S holds the voting majority at Össur’s Shareholders’ Meetings due to its majority ownership of the Company.

Minutes of Shareholders’ Meetings are available here on Össur’s website.

Board member Responsibilities Independent Nationality Residence Board tenure
Niels Jacobsen Chairman of the Board No Danish Denmark 2005
Kristján Tómas Ragnarsson Vice Chairman of the Board No Icelandic USA 1999
Arne Boye Nielsen Chairman of the Audit Committee No Danish Denmark 2009
Guðbjörg Edda Eggertsdóttir Member of the Audit Committee Yes Icelandic Iceland 2013
Svafa Grönfeldt Member of the Audit Committee No Icelandic USA 2008

Board of Directors

The Board of Directors is the supreme authority in Össur’s affairs between Shareholders’ Meetings. The Board has various roles and responsibilities, including establish goals for the Company and formulate the policy and strategy to achieve those goals, hire a CEO to manage the Company’s daily operations, supervise the Company’s activities and ensure that the Company’s organization and operations are in good and proper order, ensure adequate surveillance of the accounting and financial management of the Company, and evaluate the Company’s capital structure as well as the performance of the Board and the CEO. The Board’s roles and responsibilities are further described in the Board’s rules of procedure, which are available here on Össur’s website.

The Board of Directors' Annual Wheel

Quarter 1

February Meeting

  • Full -year results
  • Corporate Governance Statement
  • Capital Structure and Dividend Policy
  • Agenda for the Annual General Meeting

Annual General Meeting

March Meeting

  • Election of Chairman and Vice Chairman
  • Appointment of Audit Committee
  • Review of Internal Rules

The Board of Directors is composed of five individuals, all elected by the shareholders at the Annual General Meeting for a term of one year. The Board shall be represented by at least 40% of each gender, and currently there are three men and two women on the Board. The Board members have all served for several years, which ensures consistency and good insights into the Company’s business and markets.

The Chairman and the Vice Chairman of the Board of Directors are elected each year following the Company’s Annual General Meeting. The Chairman’s main responsibility is to ensure that the Board performs its duties in an orderly and efficient manner. In the absence of the Chairman, the Vice Chairman performs his duties. Niels Jacobsen has served as the Chairman since 2006 and Kristján Tómas Ragnarsson as the Vice Chairman since 2012.

The Board of Directors conducts a performance evaluation each year, which includes evaluation of individual contribution, co-operation within the Board and with the CEO, the Chairman’s leadership and setup of meetings, quality of board material, committee structure, etc. The Board also evaluates its composition each year to ensure that the members of the Board have between them the relevant knowledge, professional experience, expertise and skills required to perform the Board’s tasks in the best interest of the Company. The Chairman oversees the evaluation process and proposes the actions to be taken, if any. The Chairman shall seek external assistance at least every three years.

Further information on each member of the Board of Directors is available here on Össur’s website.

Board member Board Meetings attended
Niels Jacobsen                
Kristján Tómas Ragnarsson                
Arne Boye Nielsen                
Guðbjörg Edda Eggertsdóttir                
Svafa Grönfeldt                

Audit Committee

The Audit Committee acts as an advisor to the Board of Directors but has no authority to take any decision on behalf of the Board. The principal duty of the Audit Committee is to ensure good quality of the Company’s Consolidated Financial Statements and other financial information as well as the independence of the Company’s Auditors. The Audit Committee’s role and responsibilities are further described in the Audit Committee’s rules of procedure, which are available here on Össur’s website.

The Audit Committee is composed of three Board Members. The majority of the Audit Committee shall be independent of the Company, the CEO and the Auditor. The Members of the Audit Committee shall possess the knowledge and expertise needed to perform the tasks of the Audit Committee. At least one Member of the Audit Committee shall have solid knowledge and experience in the field of financial statements or auditing. Arne Boye Nielsen has served as the Chairman of the Audit Committee since 2012.

Further information on each member of the Audit Committee is available here on Össur’s website.

Board member* Audit Committee Meetings attended
Niels Jacobsen*          
Kristján Tómas Ragnarsson*          
Arne Boye Nielsen          
Guðbjörg Edda Eggertsdóttir          
Svafa Grönfeldt          

*Attends the meeting in his capacity as Chairman or Vice Chairman of the Board.

Executive Board

According to Össur’s Articles of Association the Executive Board is formally composed of the CEO alone. He is not a member of the Board of Directors.

The CEO is responsible for the Company’s daily operations and is obliged to follow the Board of Directors’ policy and directions, within the limits provided for by the Company’s articles of association and law. The daily operations do not include measures that are unusual or extraordinary, which may generally only be taken if specially authorized by the Board.

The Board of Directors evaluates the CEO’s performance each year and then the Chairman of the Board and the CEO have a meeting to discuss the results of the evaluation and the actions to be taken, if any.

Össur also has a wider executive committee consisting of the CEO, the CFO and Executive Vice Presidents (“Executive Management”). The Executive Management generally meets every week and collectively prepares and implements the Company’s strategic plans. The CEO is responsible for the work and results of the Executive Management. The CEO evaluates the performance of the Executive Management each year and discusses the results of the evaluation with each member and the actions to be taken, if any.

Further information on each member of the Executive Management is available here on Össur’s website.

Corporate Social Responsibility


Össur joined the UN Global Compact in 2011 and signed the UN Women’s Empowerment Principles in 2014. In 2019, Össur evaluated its impact on the UN Sustainable Development Goals and selected four goals to support. Initiatives related to the selected goals started in 2020 and therefore this is the first time Össur reports on the progress. This chapter will give a high-level overview of the selected SDG’s and ESG measurements in accordance with the Nasdaq ESG Guidance. Össur publishes annually a separate Progress Report on its sustainability efforts which discusses the Company’s initiatives and progress in more detail.

Össur’s contribution to the UN Sustainable Development Goals (SDG) 

Össur’s largest impact on society is through the Company’s innovative products, research activities and expertise in the field of prosthetics and bracing and supports. Össur works with individuals, clinicians, and diverse communities around the world to support a better quality of life and increase the mobility of millions of people. Consequently, Össur’s greatest impact on the SDGs is on Goal 3, Good Health and Well-Being. Additionally, Össur will also contribute to Goal 5 on Gender Equality, Goal 12 on Responsible Consumption and Production and Goal 13 on Climate Action. Össur’s sustainability vision is to provide products and services that contribute to good health, using responsible production methods and supporting climate action, while being a sponsor for gender equality.

Goal 3

Goal 3

Access to healthcare for elderly amputees ​  

Össur’s main initiative supporting this goal is to design products that offer additional benefits for the elderly, increasing their independency and quality of life. To secure access and availability of these solutions, Össur works closely with healthcare professionals in its field. At the end of 2020, Össur had already launched three products that are specially designed for this user group, and 30% of ongoing clinical investigations were related to this subject which will deliver valuable information and insights to further understand the need and potential benefits.

The numbers in the table below show the status at year-end 2020. As this is the first year Össur reports on these initiatives, these results serve as a baseline and next year will demonstrate the progress achieved.

Goal 3 - Actions​ and progress
Target 2020 Status
New products specially designed for elderly users​ 4 new products by 2024 3
Ongoing prosthetic studies which will inform developers about the elderly customer group.
(Percentage of total ongoing studies)
30%
Availability of Products*
Availability of Products and services**
44%
25%

* Percentage of countries where Össur products are available
** Percentage of countries where Össur provides both products and services (direct sales)

Goal 5

Goal 5

Our Ongoing Commitment

Össur believes in diversity in its broadest sense and the importance of gender equality and women’s positive contribution to the workplace and the society. Main targets supporting this goal is to maintain an even gender split amongst employees (+/-10%), Increase management positions held by women, and continue to encourage greater diversity and inclusiveness in the industry.

Goal 5 - Actions​ and progress
Target 2020 Status
Gender split among employees 50%
(+/- 10%)
46% Female
54% Male
Female Managers
(percentage of total number of managers)
YoY increase 36%
Össur’s Women’s Leadership initiative (ÖWLI)
Encourage greater diversity and inclusiveness in the industry
Annual conferences* and webinars 6 webinars

*Annual ÖWLI Conference postponed 2020 due to COVID19

Goal 12

Goal 12

Reducing the environmental footprint of our products

Össur is taking a product-centric approach to environmental management and aims to reduce the product’s environmental footprint throughout the full lifecycle, from development, through production, use and disposal. Our approach is to start initiatives with selected product lines and expand into the portfolio going forward.

Goal 12 - Actions​ and progress
Target 2020 Status
Sustainable Product Design
  • Establish data on carbon footprint of the current product portfolio
  • Identify opportunities for carbon footprint reduction
  • Build internal development processes to act on carbon footprint of future products
  • Selected products in current product portfolio analyzed with respect to their carbon footprint
  • Opportunities for carbon footprint reduction of selected products identified
  • Internal education and awareness
  • Sustainability Workshops
Reduce material in product packaging
  • Eliminate single use plastic
  • Reduce total material consumption
  • Pro-Flex Foot line packaging re-design:
    • 100% reduction in polyurethane,
    • 10% less in total material
    • 50% recycled material
  • Recycling information incorporated

Goal 13

Goal 13

Actively working towards a carbon neutral operation

Össur is committed to reducing its Greenhouse Gas Emissions and improving the efficiency of its energy and resource consumption.

In recognition of our commitment to sustainable development and to commemorate Össur’s 50th anniversary, Össur will be Carbon Neutral in 2021 for energy and fuel consumption, waste generation, business travel and transportation of goods. This represents direct and indirect emissions (Scope 1 and 2) and selected Scope 3 emissions, according to Greenhouse Gas Protocol.

Össur has partnered with First Climate, a leading service provider of carbon emissions management, to achieve carbon neutrality. Össur aims to source all electricity from renewable sources and offset emissions through VCS and Gold Standard projects to support the UN Sustainable Development Goals.

Össur internal operations will be Carbon Neutral in 2021

How will we do it?

CO2 Neutral

Actively reduce emissions from business travel and inbound, outbound and intercompany freight.​

Improve energy efficiency at our locations and work towards 100% renewable energy sources. We are currently using 100% renewable energy in Iceland and solar panels are used at our Eindhoven facility.​

Reduce waste by focusing on raw material efficiency and maximize waste recovery, supporting a circular economy.​

Offset the remaining emissions with verified carbon removal projects and solutions.​

Goal 13 - Actions​ and progress
Target 2020 Status
Continuously improve Össur‘s Greenhouse Gas emission reporting Establish an overview of Össur‘s carbon footprint Emission data added for:
  • 6 Össur locations
  • Transportation of goods
  • Clinics
  • Car fleet
  • Finished Goods Suppliers electricity consumption
Source electricity from renewable energy sources 100% 24% of electricity with Guarantee of Origin (GO) certification
Reduce emissions from business travel and freight. -10% 40% reduction, reflecting COVID-19 impacts on business travel (70% reduction)
Carbon Neutral company Carbon neutral in 2021
  • Partner selected (First Climate)
  • Emissions calculations verified by First Climate
CO2 Neutral CO2 Neutral

Environment

Below reporting on environmental metrics is in accordance with the Nasdaq ESG guidance. Össur strives to continuously improve its Greenhouse Gas emission reporting with more extensive data from suppliers and service providers. In 2020, the scope of emission monitoring was extended which explains higher emissions in 2020, compared to 2019. The table only shows two years as the 2018 numbers are not comparable to 2019 and 2020 numbers due to this extension to scope.

Össur has a certified environmental management system in accordance with ISO 14001:2015 at the largest manufacturing and distribution locations.

For more detailed information, see Össur's CSR report.

Environment
Connection to frameworks 2019 2020
E1 GhG Emissions in tonnes CO2 equivalents (tCO2e) * UNGC P7
1.1 Scope 1 - Direct emissions, tCO2e 360 1,800
Gas consumption for heating 360 500
Fuel consumption in vehicle fleet n.a. 1,300
1.2 Scope 2 - Indirect emissions, tCO2e 3,600 5,000
Purchased electricity and heat 3,600 5,000
1.3 Scope 3 - Other relevant indirect emissions, tCO2e 7,090 9,330
Finished Goods Suppliers electricity consumption n.a. 2,200
Transportation of goods n.a. 4,700
Waste treatment 190 130
Business travel 6,900 2,300
E2 Emissions Intensity SDG 13, UNGC P7, P8
2.1 Total GhG emissions per revenue, tCO2e/USD Million 16 26
E3 Energy Usage SDG 12, UNGC P7, P8
3.1 Total energy directly consumed (MWh) 2,340 7,030
Gas consumption for heating 2,340 2,230
Fuel consumption of vehicle fleet n.a. 4,800
E4 Energy Intensity SDG 12, UNGC P7, P8
Total energy usage per revenue, MWh/USD Million 3 11
E5 Energy Mix
% electricity from renewable sources ** n.a. 24%
% electricity from other energy sources n.a. 76%
E6 Water Usage
6.1 Total amount of water consumed (m3) *** 95,400 87,000
E7 Environmental operations
7.1 Does Össur follow a formal Environmental Policy? Yes Yes
7.2 Does Össur follow specific waste, water, energy, and/or recycling polices? Yes Yes
7.3 Does Össur use a recognized energy management system? Yes Yes
E8 Climate Oversight / Board
Does Össur Board of Directors oversee and/or manage climate-related risks? No No
E9 Climate Oversight / Management
Does Senior Management Team oversee and/or manage climate-related risks? No No
E10 Climate Oversight / Management UNGC P9
Total amount invested, annually, in climate-related infrastructure, resilience, and product development. n.a. n.a.

* In 2020, the scope of emission monitoring was extended to include 6 additional Össur locations, Transportation of goods, Clincs, Car fleet and Finished Goods Suppliers. This extension to the monitoring scope explains higher emissions in 2020 compared to 2019.
** Electricity consumption in Iceland, Guarantee of origin (GO) certified for the first time
*** Includes 7 of 10 M&O operational sites

Social

Below reporting on social metrics in accordance with the Nasdaq ESG guidance. Further details on social initiative are discussed in Össur’s CSR report.

Social Metrics
Connection to frameworks 2018 2019 2020
S1 CEO Pay Ratio UNGC: Principle 6
CEO total compensation to median FTE total compensation 22 21 21
Does your company report this metric in regulatory filings? Yes/No Yes Yes Yes
S2 Gender Pay Ratio UNGC: Principle 6
Equal pay audit Yes Yes Yes
S3 Employee Turnover Ratio UNGC: Principle 6
Year-over-year change for full-time employees 15% 10% 17%
Year-over-year change for part-time employees n/a n/a n/a
Year-over-year change for contractors and/or consultants n/a n/a n/a
S4 Gender Diversity UNGC: Principle 6
Total enterprise headcount held by men and women M 51% / F 49% M 51% / F 49% M 54% / F 46%
Entry- and mid-level positions held by men and women M 64% / F 36% M 62% / F 38% M 64% / F 36%
Senior- and executive-level positions held by men and women M 80% / F 20% M 74% / F 26% M 76% / F 24%
S5 Temporary Worker Ratio UNGC: Principle 6
Total enterprise headcount held by part-time employees 4% 8% 9%
Total enterprise headcount held by contractors and/or consultants n/a 124 144
S6 Non-Discrimination Policy UNGC: Principle 6
Does your company follow a sexual harassment and/or non-discrimination policy? Yes/No Yes Yes Yes
S7 Injury rate SDG 3
Percentage: Frequency of injury events relative to total workforce time 1.1 0.6 0.7
S8 Global Health and Safety policy SDG 3
Does your company follow an occupational health and/or global health & safety policy? Yes/No Yes Yes Yes
S9 Child & Forced Labor Policy UNGC: Principle 4,5
Does your company follow a child and/or forced labor policy? Yes/No Yes Yes Yes
If yes, does your child and/or forced labor policy See also: cover suppliers and vendors? Yes/No Yes Yes Yes
S10 Human Rights Policy UNGC: Principle 1,2
Does your company follow a human rights policy? Yes/No Yes Yes Yes
If yes, does your human rights policy See also: cover suppliers and vendors? Yes/No Yes Yes Yes

Corporate Governance

Össur’s Corporate Governance reporting complies with the Danish Recommendations on Corporate Governance. Further details on the Corporate Governance Reporting can be found in the Corporate Governance Statement on Össur’s website: ossur.com/corporate/investor-relations/corporate-governance Below reporting on governance metrics in accordance with the Nasdaq ESG guidance. Further details on Governance related initiative are discussed in Össur’s CSR report.

Governance Metrics
Connection to frameworks 2018 2019 2020
G1 Board Diversity
Percentage: Total board seats occupied by women (as compared to men) M 60% / F 40% M 60% / F 40% M 60% / F 40%
Percentage: Committee chairs occupied by women (as compared to men) M 100% / F 0% M 100% / F 0% M 100% / F 0%
G2 Board Independence
Does company prohibit CEO from serving as board chair? Yes/No Yes Yes Yes
Percentage: Total board seats occupied by independents D 60% / I 40% D 60% / I 40% D 60% / I 40%
G3 Incentivized Pay
Are executives formally incentivized to perform on sustainability? Yes/No No No No
G4 Collective Bargaining UNGC: Principle 3
Total enterprise headcount covered by collective bargaining agreement(s) n/a 41% 39%
G5 Supplier Code of Conduct UNGC: Principle 2,3,4,8 SDG 12
Are your vendors or suppliers required to follow a Code of Conduct? Yes/ No No Yes Yes
If yes, what percentage of your suppliers have formally certified their compliance with the code? n/a 76%* 76%*
G6 Ethics & Anti-Corruption UNGC: Principle 10
Does your company follow an Ethics and/or Anti-Corruption policy? Yes/No Yes Yes Yes
If yes, what percentage of your workforce has formally certified its compliance with the policy? 91%** 91%** 91%**
G7 Data Privacy
Does your company follow a Data Privacy policy? Yes/No Yes Yes Yes
Has your company taken steps to comply with GDPR rules? Yes/No Yes Yes Yes
G8 ESG Reporting UNGC: Principle 8
Does your company publish a sustainability report? Yes/No Yes Yes Yes
Is sustainability data included in your regulatory filings? Yes/No Yes Yes Yes
G9 Disclosure Practices UNGC: Principle 8
Does your company provide sustainability data to sustainability reporting frameworks? Yes/No Yes Yes Yes
Does your company focus on specific UN Sustainable Development Goals (SDGs)? Yes/No No Yes Yes
Does your company set targets and report progress on the UN SDGs? Yes/No No Yes Yes
G10 External Assurance UNGC: Principle 8
Are your sustainability disclosures assured or validated by a third party? Yes/No Third party assurance and third party audits are perfomed on vast majority of the CSR data, further details in the CSR report

* percentage of suppliers categorized as critical suppliers
**Percentage of key employees in sales and employees with responsibilities in high risk areas

Board of Directors


Niels Jacobsen

Niels Jacobsen

Chairman of the Board of Directors

Niels Jacobsen

Chairman of the Board of Directors


Click to read full bio

Niels Jacobsen

Chairman of the Board of Directors

Born in 1957

Member of the board of directors since the year 2005


Education

Master’s degree in Business Administration from the University of Aarhus in Denmark

Board positions

KIRKBI A/S, deputy chairman
Nissens A/S, chairman
Thomas B. Thrige Foundation, chairman
ABOUT YOU Holding GmbH, deputy chairman

Additional duties related to William Demant Invest A/S:

  • Demant A/S, deputy chairman
  • Jeudan A/S, chairman
  • Össur hf., chairman
  • Vision RT Ltd., chairman
  • Founders A/S, chairman
  • Boston Holding A/S, board member

Experience

Mr. Jacobsen has broad management experience both as CEO and as chairman in major international companies, he is currently the CEO of William Demant Invest A/S. Previous positions include President & CEO of Demant A/S (formerly William Demant Holding A/S), President of Orion A/S and Vice President overseeing corporate affairs for both Atlas Danmark A/S and Thrige-Titan A/S.

Shares held in Össur

203,330 (incl. related parties).
Mr. Jacobsen holds no share options in the Company.

Other

Mr. Jacobsen has no interest links with the Company’s main clients or competitors.
Mr. Jacobsen is a dependent member of the Board.

 

Kristjan Tomas Ragnarsson

Dr. Kristjan Tomas Ragnarsson

Vice Chairman of the Board of Directors

Dr. Kristjan Tomas Ragnarsson

Vice Chairman of the Board of Directors


Click to read full bio

Dr. Kristjan Tomas Ragnarsson

Vice Chairman of the Board of Directors

Born in 1943

Member of the board of directors since the year 1999


Education

Certified by the American Board of Physical Medicine and Rehabilitation University of Iceland’s School of Medicine

Experience

Between 1986 and 2016, Dr. Ragnarsson served as the Chairman and Lucy Moses Professor of the Department of Rehabilitation Medicine for the Mount Sinai Medical Center in New York City. He has also served in multiple other leadership positions at Mount Sinai and various professional organizations. In 1971-1986 Dr. Ragnarsson was a Resident, Fellow, Assistant and then Associate Professor Rehabilitation Medicine, NYU Medical Center.

Shares held in Össur

Dr. Ragnarsson holds no shares nor share options in the Company.

Other

Dr. Ragnarsson has no interest links with the Company’s main clients, competitors, or major shareholders.
Dr. Ragnarsson is a dependent member of the Board.

 

Arne Boye Nielsen

Arne Boye Nielsen

Member of the Board of Directors

Arne Boye Nielsen

Member of the Board of Directors


Click to read full bio

Arne Boye Nielsen

Member of the Board of Directors

Born in 1968

Member of the board of directors since the year 2009


Education

Master’s degree in Business Administration from the Copenhagen Business School in Denmark

Board positions

Epos A/S (chairman)
Revenio Group Oyj (board member)
Interacoustics A/S (president)

Experience

Mr. Nielsen has spent his entire career with Demant A/S in various and expanding roles throughout the world. After working as an interim General Manager of Oticon Australia Pty Ltd. Mr. Nielsen assumed, in 1996, his current position as President of Diagnostics and Communications in Demant, which has operations worldwide.

Shares held in Össur

Mr. Nielsen neither has shares nor share options in the Company.

Other

Mr. Nielsen has no interest links with the Company’s main clients or competitors.
Mr. Nielsen is a dependent member of the Board.

 

Svafa Grönfeldt

Dr. Svafa Grönfeldt

Member of the Board of Directors

Dr. Svafa Grönfeldt

Member of the Board of Directors


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Dr. Svafa Grönfeldt

Member of the Board of Directors

Born in 1965

Member of the board of directors since the year 2008


Education

Doctorate in Industrial Relations from the London School of Economics

Board positions

Icelandair (board member)
Origo (board member)
UNICEF Iceland (board member)
Mynto (board member)

Experience

Dr. Grönfeldt is the senior advisor to the Dean at the Massachusetts Institute of Technology SA+P, a founding member of MIT’s newest innovation accelerator DesignX, and a co-founder of the MET fund, a Cambridge based seed investment fund. Previous positions include Chief Organizational Development Officer of Alvogen, President of Reykjavik University, deputy to the CEO of Actavis Group, Assistant Professor of Economics and Business Administration at the University of Iceland.

Dr. Grönfeldt holds no shares nor share options in the Company.

Other

Dr. Grönfeldt has no interest links with the Company’s main clients, competitors, or major shareholders.
Dr. Grönfeldt is an independent Board member.

 

Gudbjorg Edda Eggertsdottir

Gudbjorg Edda Eggertsdottir

Member of the Board of Directors

Gudbjorg Edda Eggertsdottir

Member of the Board of Directors


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Gudbjorg Edda Eggertsdottir

Member of the Board of Directors

Born in 1951

Member of the board of directors since the year 2013


Education

Master’s degree (Pharm.) from Copenhagen University

Board positions

Brunnur Investment Fund (chairman) Coripharma Holding ehf (vice chairman)
Florealis ehf. (chairman)
Orf Genetics hf. (board member)
Vistor hf. (board member)
Saga Medica ehf. (board member)
Pretium ehf. (chairman)
Coripharma Holding ehf (vice chairman

Experience

Previous positions include President & EVP Strategic Projects of Actavis Plc in Iceland, a global integrated specialty pharmaceutical company; Deputy CEO and EVP Third Party Sales at Actavis Group hf.; Deputy CEO, Head of R&D, Assistant Managing Director, Development Manager, Regulatory Manager and Marketing Manager at Delta hf.; and Medical Representative at Pharmaco hf. She was the President of the European Generic Medicines Association from 2011-2013.

Shares held in Össur

26,318 (incl. related parties). Ms. Eggertsdóttir holds no share options.

Other

Ms. Eggertsdóttir has no interest links with the Company’s main clients or competitors.
Ms. Eggertsdóttir is an independent member of the Board.

 

Executive Management


Jon Sigurdsson

Jon Sigurdsson

President and Chief Executive Officer

Jon Sigurdsson

President and Chief Executive Officer


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Jon Sigurdsson

President and Chief Executive Officer

Born in 1956

With Össur since the year 1996


Education

Master’s degree in Business Administration (MBA) from the United States International University in San Diego.

Bachelor’s degree in industrial engineering from Odense Technical College in Denmark.

Board Positions

Vitrolife AB
The Icelandic American Chamber of Commerce

Experience

Jón has been the CEO of Össur since 1996 and prior to that he was the Commercial Counselor for the Icelandic Trade Council in New York (1992- 1996), Chief Financial Officer at Álafoss (1989-1991), Head of the International Division of Eimskip (1986-1989) and an Engineer for Bang and Olufsen Denmark (1982- 1984).

Jón’s experience as a member of the Board of Directors in other companies/ organizations includes:

  • Rio Tinto Alcan Iceland 2003-2015
  • The Icelandic Chamber of Commerce 2002-2012
  • Reykjavik University from 2002-2009
  • Samherji hf. from 2002-2006
  • The Icelandic Trade Council from 1997-2003
  • Research Liaison Office of the University of Iceland from 1996-2001

Shares held in Össur

899.474 (incl. related parties)

 

Egill Jonsson

Egill Jonsson

EVP of Manufacturing and Operations

Egill Jonsson

EVP of Manufacturing and Operations


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Egill Jonsson

EVP of Manufacturing and Operations

Born in 1957

With Össur since the year 1996


Education

Master’s degree in Mechanical Engineering from the Technical University in Copenhagen (DTU)

Bachelor degree in Engineering from the University of Iceland

Board positions

Federation of Icelandic Industries

Technical College Reykjavik

Experience

Egill has led the M&O function since he joined in 1996. He was formerly a Project Manager at VGK hf, an Engineering firm in Reykjavik (1985-1996).

Shares held in Össur

822,749 (incl. related parties)

 

Gudjon G. Karason

Gudjon G. Karason

EVP of Clinics

Gudjon G. Karason

EVP of Clinics


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Gudjon G. Karason

EVP of Clinics

Born in 1969

With Össur since the year 1998


Education

Master’s degree in Engineering from the University of Iceland

CS degree in Mechanical Engineering from the University of Iceland

OTB (Swedish O&P Industry Association) (chairman)

Experience

Gudjon has been with Össur since 1998, and has since then worked in R&D, Marketing, Sales, and Clinics in multiple positions. Prior to joining Össur, Gudjon worked as Development Manager for a couple of smaller industrial companies in Iceland.

Shares held in Össur

42,743

 

Margret Lara Fridriksdottir

Margret Lara Fridriksdottir

EVP of Human Resources and Corporate Strategy

Margret Lara Fridriksdottir

EVP of Human Resources and Corporate Strategy


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Margret Lara Fridriksdottir

EVP of Human Resources and Corporate Strategy

Born in 1978

With Össur since the year 2000


Education

Master’s degree in Management and Strategy from the University of Iceland

Bachelor degree in Business Administration from the University of Iceland

Experience

Margret has been with Össur since 2000 in various roles in finance and human resources.

Shares held in Össur

16,300

 

Dr. Kristleifur Kristjansson

Dr. Kristleifur Kristjansson

EVP of Research and Development

Dr. Kristleifur Kristjansson

EVP of Research and Development


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Dr. Kristleifur Kristjansson

EVP of Research and Development

Born in 1955

With Össur since the year 2012


Education

Medical Doctor degree from the University of Iceland

Board-Certified Pediatrician from the Medical College of Georgia

Clinical and molecular genetics fellowship from the Baylor College of Medicine in Houston, Texas

Certified Pediatrician and Clinical Geneticist in Iceland from 1993

Board positions

Skraeda ehf. (chairman)

Experience

Dr. Kristjansson joined Össur in 2012, for the first 5 years as Medical Officer and another 2 years as Medical Officer and VP of Clinical Affairs. Dr. Kristjansson’s previous positions include co-founder and VP of Clinical Affairs and Collaborations at deCODE genetics ehf. 1995 to 2012 and co-founder and CEO of Pediatric Services in Iceland 1995 to 2014. Dr. Kristjansson has acted as a consulting Pediatrician and Clinical Geneticist for the University Hospital, Landspitalinn Reykjavik Iceland, from 1998 to the present, and he is the Founder of Skraeda ehf.

Shares held in Össur

1,850

 

Olafur Gylfason

Olafur Gylfason

EVP of Prosthetics and Europe/Emerging Markets

Olafur Gylfason

EVP of Prosthetics and Europe/Emerging Markets


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Olafur Gylfason

EVP of Prosthetics and Europe/Emerging Markets

Born in 1969

With Össur since the year 1997


Education

Master’s degree in International Business Economics from Alborg University in Denmark

Bachelor degree in Business Administration from Bifrost School of Business in Iceland

Experience

Olafur has been with Össur since 1997; from 2001-2013 as the Managing Director of EMEA and before that in emerging markets.

Shares held in Össur

9,517

 

Sveinn Solvason

Sveinn Solvason

Chief Financial Officer

Sveinn Solvason

Chief Financial Officer


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Sveinn Solvason

Chief Financial Officer

Born in 1978

With Össur since the year 2009


Education

Master’s degree in Finance and Accounting (Cand.Merc.FIR) from Copenhagen Business School

Bachelor degree in International Business from Copenhagen Business School.

Board positions

Icelandic Chamber of Commerce

Experience

Sveinn has been with Össur since 2009, previously as Director of Treasury and Corporate Development. Prior to joining Össur he worked at Marel, Kaupthing Bank, Goldman Sachs and HSH Nordbank.

Shares held in Össur

25,000

 

Sveinn Solvason

Christian Robinson

EVP of Bracing & Supports and Americas

Christian Robinson

EVP of Bracing & Supports and Americas


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Christian Robinson

EVP of Bracing & Supports and Americas

Born in 1982

With Össur since the year 2012


Education

Juris Doctorate from Harvard Law School

Bachelor’s Degree in English Literature from Brigham Young University

Board positions

National Association for the Advancement of Orthotics and Prosthetics (NAAOP)

Experience

Since joining Össur in 2012, Christian has served in several roles including General Counsel Americas, VP Finance Americas, and Managing Director Americas. Prior to joining Össur he practiced corporate and transactional law with international law firm Paul Hastings LLP with a focus on M&A and capital markets.

Shares held in Össur

600

 


Össur 2020 Annual Report