Sonova proposes Jinlong Wang for election to the Board of Directors
"I am very happy to propose Mr. Jinlong Wang as a new member to the Board of Directors. With his extensive business and legal background both in China and in the United States, he is a valuable addition to the current Board of Directors. His impressive track record of successfully building up the Starbucks coffee brand and business in China, the homeland of tea, is a strong testament of the type of professional experience that is vital for Sonova to fully explore the untapped potential of the market for hearing solutions in Asia and in particular in China", says Robert Spoerry, Chairman of the Board of Directors of Sonova Holding AG.
Jinlong Wang (born 1957 in China, US citizen) has extensive business experience in Asia Pacific, particularly in China, and in the United States. Before taking on his current position, he was Chairman and president of Starbucks Greater China Region from October 2005 to June 2011, where he was critical in the building of Starbucks continued successes in the company's second home market outside of the United States. Under his leadership, Starbucks has established presence in more than 30 cities with over 450 stores in Mainland China within 12 years. He was also instrumental in Starbucks Yunnan Coffee Project in the development of a complete value-chain in China - from seed to cup.
Born in China and initially working as a government official in the country's Ministry of Foreign Economic Relationship and Trade, he subsequently moved to the United States where Wang received his Juris Doctor Degree at Columbia School of Law, Columbia University. After working in the legal field for a number of years, he joined Starbucks Corporation in 1992 as head of Law & Corporate Affairs Department. From 1996 to 2000 he was responsible as VP International Business Development for building the company's international business and operations.
"With my background and experience, I am convinced that I can provide valuable support towards the further success of Sonova, in particular with respect to the company's plan to further grow in China and Asia Pacific", says Jinlong Wang. "At the same time, it allows me to make a contribution to the Chinese society by advancing the concept for better hearing. "
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Sonova Holding AG
Sonova Holding AG, headquartered in Staefa, Switzerland, is the leading manufacturer of innovative hearing care solutions. The group operates through its three core business brands Phonak, Unitron, Advanced Bionics. Sonova develops and distributes advanced hearing care solutions such as hearing instruments, cochlear implants, wireless communication systems for audiological applications as well as professional solutions for hearing protection. With the most extensive product portfolio and the highest R&D investment in the industry, Sonova aims to be the recognized innovation leader in the global hearing care market. Present across the globe in over 90 countries, and with a workforce of over 8,000 dedicated employees, Sonova generated sales of CHF 1,62 billion in the financial year 2011/12 and a net profit of CHF 246 million. A focused corporate strategy drives Sonova sustainably further in a growing and still significantly under-penetrated market. Founded in 1947, the company has been devoted to promoting better understanding and communication for over 65 years, thus considerably improving people's hearing ability and speech intelligibility and thereby their quality of life.
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Sonova shares (ticker symbol:SOON) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act, or outside the United States of America in reliance on Regulation S under the U.S. Securities Act.