„Össur will continue to generate value by focusing our business strategy on successful product innovation, sustainable growth and efficiency.“

Shareholder information


The Össur stock price increased by 17% in 2018, compared to a decline of 11% of the OMXC25GI index. Össur returned USD 35 million to its shareholders in 2018, in the form of USD 26 million share buybacks and USD 9 million in dividends.

Össur‘s stock is listed on Nasdaq Copenhagen and was the 31st largest company listed on Nasdaq Copenhagen when measured in terms of market value at year-end 2018.

Key information table

Market

Market

CPH (DKK)

ISIN

ISIN

IS0000000040

Ticker

Ticker

OSSR

Industry

Industry

Health Care

Nr. of shares

Number-shares

430,808,063

The share capital of Össur is ISK 430,808,063 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 51% of the total shares and 52% of the voting rights at year-end 2018. 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. WDI is wholly owned by the Oticon Foundation and Össur is therefore included in the consolidated financial statements of the Oticon Foundation. Apart from Össur, the fund’s investment activities include a majority share in William Demant Holding A/S, a leading provider of hearing aids, and Vision RT in addition to minority holdings in Jeudan A/S and Vitrolife AB.

In addition, ATP Pension Fund, The Pension Fund of Commerce, Gildi Pension Fund, LSR Pension Fund, and Oppenheimer Funds had announced holdings above 5% in Össur at year-end 2018.

At year-end, about ~90% of Össur‘s shareholders were located in Scandinavia. The remaining ~10% of the shares are held by investors residing in other countries.

Shareholder information

Ownership structure

The Oticon Foundation is a Danish charitable business foundation that supports projects within the areas of research, education, culture and selected social areas. Its main purpose is to secure and expand the commercial activities of William Demant Holding and William Demant Invest, which handles the Oticon Foundation’s investment activities, and to donate money to charitable causes.

Ownership Structure

 

Source: Oticon Foundation’s website

Stock performance

Össur’s share price increased by 17% in 2018, from DKK 26.61 per share at year-end 2017 to DKK 31.1 per share at year-end 2018. The rise in share price increased Össur’s market capitalization to DKK 13.4 billion at year-end 2018 from DKK 11.6 billion at year-end 2017, corresponding to USD 2.1 billion at year-end 2018.

Stock performance

Share buybacks

During 2018, Össur purchased 5,430,259 of own shares (approx. 1.3% of outstanding shares) under share buyback programs. The total purchase price was DKK 161 million (USD 26 million). The purpose of the share buyback programs is to adjust the capital structure in line with a desired capital level of 1-2x net interest-bearing debt to EBITDA outlined in Össur’s Capital Structure and Dividend Policy. At year-end 2018, treasury shares totaled 6,705,259.

The Board of Directors will propose to the Annual General Meeting in 2019 to reduce the share capital by way of cancelling all shares acquired in 2018 amounting to 5,430,259 of Össur’s own shares of ISK 1 nominal value each. If the Annual General Meeting approves the motion, the number of outstanding shares will be 425,377,804.

Dividends

The Board of Directors will propose to the Annual General Meeting in 2019 that Össur pays a cash dividend of DKK 0.14 per share for 2018, equivalent to approx. 12% of net profit in 2018, compared to DKK 0.13 per share for 2017, an increase of 8% per share. If the Annual General Meeting approves the motion, the dividend for 2018 will be paid out on March 21, 2019 and the last trading day with right to dividend for 2018 is March 7, 2019.

Share buybacks and dividends

Over the last five years, Össur has paid out USD 178 million to shareholders in the form of share buybacks and dividends.

Financial calendar

Annual General Meeting 7 March 2019
Interim Report Q1 2019 30 April 2019
Interim Report Q2 2019 25 July 2019
Interim Report Q3 2019 22 October 2019
Interim Report Q4 2019 and Annual Report for 2019 4 February 2020
Annual General Meeting 12 March 2020

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 at the Company's headquarters in Iceland on 7 March 2019.

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. Five sell-side equity analysts currently cover Össur.

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

Contact Investor Relations
David Hreidarsson
Investor Relations Manager
Tel.: +354 515 1380
e-mail: [email protected]

Corporate Governance


Recommendations on Corporate Governance

Össur applies the Danish Recommendations on Corporate Governance (“Recommendations”) as the Company’s shares are solely traded on Nasdaq Copenhagen and Össur is not subject to a corporate governance code in Iceland. The Recommendations are the best practice guidelines for companies admitted to trading on a regulated market in Denmark. For further information see clause 2.5 and explanations to clause 4.1 in Nasdaq Copenhagen’s rules for issuers of shares.

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 Yes 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

March Meeting

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

Annual General Meeting

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 Board’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’s single largest contribution to society is its products, which help millions of users improve their mobility every year.

Providing products and alternative treatment options

Össur believes it has a great responsibility towards people with impaired mobility, not only to design products that improve mobility, but equally to support third party initiatives to improve patient care and support. Proper prosthetic solutions allow amputees to become mobile again and live a life without limitations. Likewise, bracing and supports products provide hospitals and healthcare systems alternative treatments which can postpone surgeries and improve mobility.

In the spotlight

Good healthcare economics of bionic solutions

The average age of the amputee population is estimated to be between 65-70 years old and only 30-40% of new lower limb amputees are estimated to receive a prosthetic solution. Össur believes that it is cost-effective to fit this group of amputees with functional prosthetic products such as bionics, as it is expected to enable them to stay mobile and be more independent. Physical activity and exercise can have immediate and long-term health benefits and most importantly, regular activity can improve quality of life. If this patient group receives more functional solutions it is expected that they will need less assistance from the healthcare system which should lead to less overall cost in patient care.

Össur strives to deliver clinical evidence demonstrating the benefits of providing elderlies with more functional solutions. Össur intends to work with key stakeholders to evaluate the best solutions for the end users and the health care systems.

Össur ranked second place in survey on Corporate Social Responsibility

Results from a survey on Corporate Social Responsibility that was performed among the public on Icelandic companies ranked Össur in second place with a score of 3.97 out of 5. The questions were related to business ethics, environment, transparency and direct support to the society. Össur has been committed to work with its impact on the environment and the societies it operates in for years and as such became a signatory of the UN Global Compact Initiative in 2011.

Global compact

Össur joined the UN Global Compact in 2011 and signed the UN Women’s Empowerment Principles in 2014. Annually Össur publishes a report on the progress of key projects in the four categories set forth by the Global Compact; environmental concerns, labor practices, human rights and anti-corruption.

UN Global Compact Focus Areas

Environment

Environment

Key focus is on CO2 emission, waste management and sustainable product design

Anti-Corruption

Anti-Corruption

Key focus is on screening distributors and educating key employees

Labor Practices

Labor Practices

Key focus is on equal opportunities, safe workplace and employee participation

Human Rights

Human Rights

Key focus is on social compliance auditing of product suppliers

Further information about Össur’s CSR activities can be found in the progress report, available on the Company’s website: www.ossur.com/CSR

ESG measurements

In March 2017, Nasdaq’s Nordic and Baltic stock exchanges issued voluntary guidelines for Environmental, Social, and Corporate Governance (ESG) disclosure to support the companies listed on these exchanges. The Nasdaq voluntary guide focuses on the 33 ESG metrics that the World Economic Forum has recommended to stock exchanges around the world. Össur has chosen to report in accordance with these guidelines.

Below are the highlights within each category but further details can be found in the CSR report on www.ossur.com/CSR

Environment

Össur has an environmental management system in place. All main locations are certified in accordance with ISO 14001:2015.

Environmental Metrics
Environmental Metrics 2018 2017 2016 2015
Full Time Equivalents (FTE) within scope 1,274 1,156 1,067 989
Annual Revenue (USD m) 613 569 521 483
E1 Direct & Indirect GHG Emissions (tonnes CO2e) 4,520 4,140 3,800 3,770
Scope 1 (Fuel from company cars; Iceland only) 38 43 41 38
Scope 2 (Energy use) 3,700 3,480 3,210 2,430
Scope 3 (Business Travel & Freight; Iceland only) 1,660 1,280 1,170 1,300
Carbon offsetting; Business Travel -880 -660 -620 0
E2 Carbon Intensity
Tonnes CO2e emissions/FTE, with offsetting 3.5 3.6 3.6 3.8
CO2e emission/Revenue (Tonnes/USD m), with offsetting 7.3 7.3 7.3 7.8
E3 Direct & Indirect Energy Consumption 57,000 50,800 47,300 43,800
Renewable Energy consumption (GJ) 32,700 30,100 27,700 29,200
Non-Renewable Energy consumption (GJ) 24,300 20,700 19,600 14,600
Renewable Energy generation (GJ) (Solar cells) 630 600 320 0
E4 Energy Intensity
Energy consumed/FTE (GJ/FTE) 45 44 44 44
Energy consumed/Revenue (GJ/USD m) 93 90 91 91
E5 Primary Energy Source
Coal (GJ) 800 620 870 680
Natural Gas (GJ) 4,650 1,840 2,770 1,850
Oil (GJ) 18,130 18,120 15,860 12,050
Hydro and Geothermal (GJ) 31,730 28,910 26,390 28,240
Solar (GJ) 820 780 320 0
Wind (GJ) 180 410 980 960
Nuclear (GJ) 760 70 100 70
E6 Renewable Energy Intensity 57,070 50,750 47,290 43,850
Renewable energy/Non-renewable energy 1.3 1.5 1.4 2.0
E7 Water Management
Cold water consumed (m3) 94,000 80,000 112,000 No data
E8 Waste Management
Waste recycled (tonnes) 660 360 380 310
Waste not recycled (tonnes) 470 360 520 440
Hazardous waste (tonnes) 100 130 150 150
Total waste (tonnes) 1,230 850 1,050 900
Total waste generated/FTE (Kg/employee) 970 740 980 910
Total waste generated/Revenue (Tonnes/USD m) 2.0 1.5 2.0 1.9
% Recycled Waste 54% 42% 36% 34%
E9 Environmental Policy
Does your company publish and follow an EP: Yes, No? If yes, the location of relevant public information should be declared. Yes, see Össur website
E10 Environmental Impacts
Did your company bear any legal/regulatory responsibility for an environmental impact: Yes/No? No No No No

Social

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

Social Metrics
Social Metrics Measurement Comments
S1 CEO Pay Ratio 22  
S2 Gender Pay Ratio Audits: equal pay for equal responsibility Össur Headquarters is certified in accordance with ISO 85:2012 on Equal pay for Equal responsibility and Össur Americas complies with the Equal Pay Act in the USA
S3 Employee Turnover Ratio 15% -
S4 Gender Diversity Male 51% Female 49% Historically, Össur has had good balance between male and female employees
S5 Temporary Worker Ratio 4.2% -
S6 Non-Discrimination Policy In Place Policy available at: www.ossur.com/csr
S7 Injury rate 1.1 Down from injury rate of 1.3 in 2017
S8 Global Health and Safety policy In Place Policy available at: www.ossur.com/csr
S9 Child & Forced Labor Policy In Place See Össur’s Human Rights Policy: www.ossur.com/csr
S10 Human Rights Policy In Place Policy available at: www.ossur.com/csr
S11 Human Rights Violations None No Human rights violations were reported in 2018
S12 Board Diversity Men 60%, Women 40% No employees have a seat on the Board

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

Governance Metrics
Governance Metrics Measurement/Status Comments
G1 Board Separation of Powers In Place The CEO does not have a seat on the Board, he does not act as Chairman or and he doesnt‘ lead Committees
G2 Board - transparent practices In place Board of Directors rules
G3 Incentivized pay No Remuneration Policy does not include ESG Strategy
G4 Fair Labor practices In Place Human Rights Policy and Supply Code available at: www.ossur.com/csr
G5 Supplier Code of Conduct In Place Available at: www.ossur.com/csr
G6 Ethics - Code of Conduct In Place Available at: www.ossur.com/csr
G7 Anti-Corruption and Bribery In Place Available at: www.ossur.com/csr
G8 Tax transparency In Place Available at: www.ossur.com/csr
G10 Other Framework Disclosures In Place UN Global Compact, UN Women, Carbon Disclosure Project, Festa Declaration of Climate Issues
G11 External Validation & Assurance No The CEO does not have a seat on the Board, he does not act as Chairman or and he doesnt‘ lead Committees
G12 Board Separation of Powers In Place  

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

Nissens A/S (chairman)
KIRKBI A/S (deputy chairman)
The Thomas B. Thrige Foundation (chairman)
ABOUT YOU Holding GmbH (deputy chairman)
 
Directorships in several wholly and partly owned companies in the William Demant Group:
William Demant Holding A/S (deputy chairman)
Sennheiser Communications A/S (board member)
Vision RT Ltd. (chairman)
Founders A/S (chairman)
Boston Holding A/S (board member)
Jeudan A/S (chairman)
HIMPP A/S (chairman)

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. Previous positions include CEO of William Demant Holding, 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

Graduate of University of Iceland Medical School (1969)
Certified by the American Board of Physical Medicine and Rehabilitation (1976)

Experience

Chairman and Lucy Moses Professor of the Department of Rehabilitation Medicine at The Mount Sinai Medical Center in New York City (1986-2016). Has held numerous other leadership positions at Mount Sinai as well as in various American professional and cultural organizations. Dr. Ragnarsson current title is Emeritus Professor and Chairman of Rehabilitation Medicine, Icahn School of Medicine at Mount Sinai.

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

Sennheiser Communications A/S (member)
Interacoustics A/S (president)

Experience

Mr. Nielsen has spent his entire career with William Demant Holding A/S in various and expanding roles throughout the world. After working as a management assistant to Mr. Niels Jacobsen and as an interim General Manager of Oticon Australia Pty Ltd. Mr. Nielsen assumed, in 1996, his current position as President of Diagnostic Instruments, 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


Click to read full bio

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

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, an international generic pharmaceutical company, President of Reykjavik University, deputy to the CEO of Actavis Group, Assistant Professor of Economics and Business Administration at the University of Iceland and Managing Director and Managing Partner of IMG Gallup/ Deloitte.

Shares held in Össur

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


Click to read full bio

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) Florealis ehf. (chairman)
Coripharma Holding ehf (chairman)
Orf Genetics hf. (member)
MentisCura ehf. (member)
Mentis Cura A/S (member)
Vistor hf. (member)
Heilsulausnir ehf. (member)
Saga Natura ehf. (member)
Pretium ehf. (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 (now Medicines for Europe) 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


Click to read full bio

Jon Sigurdsson

President and Chief Executive Officer

Born in 1956


Education

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

Bachelor degree in Industrial Engineering from Odense Technical College in Denmark

Board Positions

Vitrolife AB
The Icelandic American Chamber of Commerce

Experience

Jon 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).

Jon'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

660,708 (incl. related parties)

Egill Jonsson

Egill Jonsson

EVP of Manufacturing and Operations

Egill Jonsson

EVP of Manufacturing and Operations


Click to read full bio

Egill Jonsson

EVP of Manufacturing and Operations

Born in 1957


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

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


Click to read full bio

Gudjon G. Karason

EVP of Clinics

Born in 1969


Education

Master’s degree in Engineering from the University of Iceland

CS degree in Mechanical Engineering from the University of Iceland

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


Click to read full bio

Margret Lara Fridriksdottir

EVP of Human Resources and Corporate Strategy

Born in 1978


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

15,100

Master’s degree in Management and Strategy from the University of Iceland.Bachelor degree in Business Administration from the University of Iceland.

Kim de Roy

Kim de Roy

EVP of Research and Development

Kim de Roy

EVP of Research and Development


Click to read full bio

Kim de Roy

EVP of Research and Development

Born in 1977


Education

Master’s degree in Rehabilitation Sciences from the University of Leaven in Belgium

Master’s degree in Physiotherapy and Education from the University of Leaven in Belgium

Bachelor degree in Orthotics and Prosthetics.

Experience

Kim joined Össur in 2002 and spent 5 years in R&D working on various development projects in both prosthetics and bracing & supports. He subsequently held several leadership positions in Sales, Marketing and Education in EMEA. Kim led Global Marketing & Education for prosthetics, as well as the prosthetics sales in the Americas for five years. Prior to joining Össur, Kim worked for RSScan International in Belgium for 3 years.

Shares held in Össur

55,000

Olafur Gylfason

Olafur Gylfason

EVP of Sales & Marketing

Olafur Gylfason

EVP of Sales & Marketing


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Olafur Gylfason

EVP of Sales & Marketing

Born in 1969


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


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


Össur 2018 Annual Report