The Össur stock price increased by 68% in 2019, compared to an increase of 29% of the OMXC25GI index, a leading index for the Danish equity market. Össur returned USD 39 million to its shareholders in 2019, in the form of USD 30 million share buybacks and USD 9 million in dividends.
Össur‘s stock is listed on Nasdaq Copenhagen and was the 24th largest company listed on Nasdaq Copenhagen when measured in terms of market value at year-end 2019.
The share capital of Össur is ISK 425,377,804 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 2019. 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 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, Vitrolife AB, and Cellavision AB.
In addition, ATP Pension Fund, The Pension Fund of Commerce, LSR Pension Fund, and Invesco Adviser, Inc. had announced holdings above 5% in Össur at year-end 2019.
At year-end, about ~88% of Össur‘s shareholders were located in Scandinavia. The remaining ~12% of the shares are held by investors residing in other countries.
User Stories
Brazilian fitness model Paola Antonini was at the beginning of a promising career when she was a victim of a drunk driver. Her left leg was severely crushed and despite four attempts to repair her injuries, amputation was determined to be the best course of action.
“At that moment, I didn’t care what that meant for my modeling career or the rest of my life; I just wanted the pain to go away.”
Today, nearly five years later, she lives life without limitations as a successful working model, social media influencer, columnist, positive body image advocate and amputee.
Physiotherapy began immediately, and frustration and negativity gave way to determination and confidence. Paola did not want to be defined nor limited by her injuries. In April 2016, she proudly shared a modeling photo which highlighted her amputated leg. The post went viral and earned her worldwide recognition as a source of inspiration to others in similar situations. Focused on resuming her modeling career, Paola continued to engage on social media, documenting her progress and setbacks, quickly amassing over 2.5 million followers.
“I really want to show people that anything is possible, and life doesn’t have to stop because of an amputation. No way! We can do whatever we want.”
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.
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 |
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.
February Meeting
March Meeting
Annual General Meeting
April Meeting
July Meeting
September Meeting
October Meeting
December 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 |
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.
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.
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 will start to report on the goals accordingly.
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.
Globally, only 30-40% of new lower limb amputees are fitted with a prosthetic solution. The average age is between 65-70 years and vascular related amputations are above 80%. Statistics demonstrate that if amputees in this age group do not become mobile, life-expectancy is materially reduced. Physical activity and exercise can have immediate and long-term health benefits and more importantly, regular activity can improve quality of life. Össur is adding special focus on designing products that support the needs of this age group.
Main targets supporting this goal:
Össur believes in diversity in its broadest sense. Rooted in our Nordic heritage is the importance of gender equality and women’s positive contribution to the workplace and the society.
Main targets supporting this goal:
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.
Main targets supporting this goal:
Össur is committed to reducing its Greenhouse Gas Emissions and improving the efficiency of our energy and resource consumption before looking into offsetting options
Main targets supporting this goal:
Össur has reported in accordance with the Nasdaq’s voluntary guidelines for Environmental, Social, and Corporate Governance (ESG) since it was first issued in 2017. The Nasdaq guide focuses on the 30 ESG metrics, 10 metrics for each category.
Össur has a certified environmental management system in accordance with ISO 14001:2015 at the biggest manufacturing and distribution locations.
| Environmental Metrics | |||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Environmental Metrics | 2017 | 2018 | 2019 | ||||||||||||||||||||||||||||||||||||||
| E1 GhG Emissions | |||||||||||||||||||||||||||||||||||||||||
| Total amount, in CO2 equivalents, for Scope 1 | 43 | 38 | 360 | ||||||||||||||||||||||||||||||||||||||
| Total amount, in CO2 equivalents, for Scope 2 | 3,480 | 3,700 | 3,600 | ||||||||||||||||||||||||||||||||||||||
| Total amount, in CO2 equivalents, for Scope 3 | 1,280 | 1,660 | 7,100 | ||||||||||||||||||||||||||||||||||||||
| Emissions neutralized by carbon offset projects, in Tonnes CO2 equivalents | -660 | -880 | -1,000 | ||||||||||||||||||||||||||||||||||||||
| E2 Emissions Intensity | |||||||||||||||||||||||||||||||||||||||||
| Total GhG emissions per revenue (tCO2e/USD Million) | 4 | 4 | 16 | ||||||||||||||||||||||||||||||||||||||
| E3 Energy Usage | |||||||||||||||||||||||||||||||||||||||||
| Total amount of energy directly consumed (MWh) | 14.110 | 15.830 | 18.550 | ||||||||||||||||||||||||||||||||||||||
| E4 Energy Intensity | |||||||||||||||||||||||||||||||||||||||||
| Total Energy usage per revenue (MWh/USD Million) | - | 23 | 27 | ||||||||||||||||||||||||||||||||||||||
| E5 Energy Mix | |||||||||||||||||||||||||||||||||||||||||
| Energy usage by generation type | |||||||||||||||||||||||||||||||||||||||||
| Fossil Fuel (%) | 41% | 41% | 46% | ||||||||||||||||||||||||||||||||||||||
| Nuclear Energy (%) | 0% | 2% | 4% | ||||||||||||||||||||||||||||||||||||||
| Renewable Energy (%) | 59% | 57% | 50% | ||||||||||||||||||||||||||||||||||||||
| E6 Water Usage | |||||||||||||||||||||||||||||||||||||||||
| Total amount of water consumed (m3) | 80.000 | 94.000 | 95.400 | ||||||||||||||||||||||||||||||||||||||
| E7 Environmental operations | |||||||||||||||||||||||||||||||||||||||||
| Does your company follow a formal Environmental Policy? Yes, No | Yes | Yes | Yes | ||||||||||||||||||||||||||||||||||||||
| Does your company follow specific waste, water, energy, and/or recycling polices? Yes/No | Yes | Yes | Yes | ||||||||||||||||||||||||||||||||||||||
| Does your company use a recognized energy management system? Yes/No | No | No | Yes | ||||||||||||||||||||||||||||||||||||||
| E8 Climate Oversight / Board | |||||||||||||||||||||||||||||||||||||||||
| Does your Board of Directors oversee and/or manage climate-related risks? Yes/No | No | No | No | ||||||||||||||||||||||||||||||||||||||
| E9 Climate Oversight / Management | |||||||||||||||||||||||||||||||||||||||||
| Does your Senior Management Team oversee and/or manage climate-related risks? Yes/No | No | No | No | ||||||||||||||||||||||||||||||||||||||
| E10 Climate Oversight / Management | |||||||||||||||||||||||||||||||||||||||||
| Total amount invested, annually, in climate-related infrastructure, resilience, and product development. | n/a | n/a | n/a | ||||||||||||||||||||||||||||||||||||||
Össur is continuously improving its Greenhouse gas emission reporting with more extensive data from suppliers and service providers.
In 2019, the main changes are:
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 | 2017 | 2018 | 2019 | ||||||||||||||||||||||||||||||||||||||
| S1 CEO Pay Ratio | |||||||||||||||||||||||||||||||||||||||||
| CEO total compensation to median FTE total compensation | 25 | 22 | 21 | ||||||||||||||||||||||||||||||||||||||
| Does your company report this metric in regulatory filings? Yes/No | Yes | Yes | Yes | ||||||||||||||||||||||||||||||||||||||
| S2 Gender Pay Ratio | |||||||||||||||||||||||||||||||||||||||||
| Equal pay audit | Yes | Yes | Yes | ||||||||||||||||||||||||||||||||||||||
| S3 Employee Turnover Ratio | |||||||||||||||||||||||||||||||||||||||||
| Year-over-year change for full-time employees | 13% | 15% | 10% | ||||||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||||||||
| Total enterprise headcount held by men and women | M 52% / F 48% | M 51% / F 49% | M 51% / F 49% | ||||||||||||||||||||||||||||||||||||||
| Entry- and mid-level positions held by men and women | M 63% / F 37% | M 64% / F 36% | M 62% / F 38% | ||||||||||||||||||||||||||||||||||||||
| Senior- and executive-level positions held by men and women | M 77% / F 23% | M 80% / F 20% | M 74% / F 26% | ||||||||||||||||||||||||||||||||||||||
| S5 Temporary Worker Ratio | |||||||||||||||||||||||||||||||||||||||||
| Total enterprise headcount held by part-time employees | 3% | 4% | 8% | ||||||||||||||||||||||||||||||||||||||
| Total enterprise headcount held by contractors and/or consultants | n/a | n/a | 124 | ||||||||||||||||||||||||||||||||||||||
| S6 Non-Discrimination Policy | |||||||||||||||||||||||||||||||||||||||||
| Does your company follow a sexual harassment and/or non-discrimination policy? Yes/No | Yes | Yes | Yes | ||||||||||||||||||||||||||||||||||||||
| S7 Injury rate | |||||||||||||||||||||||||||||||||||||||||
| Percentage: Frequency of injury events relative to total workforce time | 1.7 | 1.1 | 0.6 | ||||||||||||||||||||||||||||||||||||||
| S8 Global Health and Safety policy | |||||||||||||||||||||||||||||||||||||||||
| Does your company follow an occupational health and/or global health & safety policy? Yes/No | Yes | Yes | Yes | ||||||||||||||||||||||||||||||||||||||
| S9 Child & Forced Labor Policy | |||||||||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||||||||
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 | 2017 | 2018 | 2019 | ||||||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||||||||
| Total enterprise headcount covered by collective bargaining agreement(s) | n/a | n/a | 41% | ||||||||||||||||||||||||||||||||||||||
| G5 Supplier Code of Conduct | |||||||||||||||||||||||||||||||||||||||||
| Are your vendors or suppliers required to follow a Code of Conduct? Yes/ No | n/a | n/a | Yes | ||||||||||||||||||||||||||||||||||||||
| If yes, what percentage of your suppliers have formally certified their compliance with the code? | n/a | n/a | 76% | ||||||||||||||||||||||||||||||||||||||
| G6 Ethics & Anti-Corruption | |||||||||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||||||||
| 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 | No | Yes | ||||||||||||||||||||||||||||||||||||||
| Does your company set targets and report progress on the UN SDGs? Yes/No | No | No | Yes | ||||||||||||||||||||||||||||||||||||||
| G10 External Assurance | |||||||||||||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||||||||||
Further information about Össur’s CSR activities can be found in the progress report, available on the Company’s website: www.ossur.com/CSR
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 and Demant:
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.
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.
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
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 and Personal Communication 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.
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, President of Reykjavik University, deputy to the CEO of Actavis Group, Assistant Professor of Economics and Business Administration at the University of Iceland.
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
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)
Coripharma Holding ehf (chairman)
Florealis ehf. (chairman)
Orf Genetics hf. (member)
Vistor hf. (member)
Heilsulausnir ehf. (chairman)
Saga Medica 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 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.
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:
Shares held in Össur
525,540
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
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
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
Board positions
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
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
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
EVP of Sales & Marketing
Olafur Gylfason
EVP of Sales & Marketing
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Olafur Gylfason
EVP of Sales & Marketing
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
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