Piscataway, NJ, Feb. 01, 2019 (GLOBE NEWSWIRE) --
- Experienced hearing health industry executive assumes role of chief executive officer following tenure as company’s chief operating officer
- Timm is committed to continuing hearing aid company’s robust growth, expanding leadership position
Audiology technology leader Sivantos, Inc. today announced that Eric Timm has been appointed to the role of chief executive officer. Timm, who has served as chief operating officer of the company for the past two years, takes over the role from Steve Mahon, who has stepped down.
Timm joined Sivantos, the parent company of hearing aid brand Signia, in March 2017. As chief operating officer, he worked closely with Mahon to create and execute a new vision and strategy that helped the company achieve strong growth several times the industry standard over the past two years. In his new role, Timm will guide the company’s strategic plans and initiatives to further grow its standing in the marketplace.
“I am honored to assume the role of CEO of Sivantos and eager to advance the company’s mission to invent the future of better hearing and understanding,” Timm said. “As the hearing aid industry continues to transform rapidly, Sivantos has the right combination of exceptional people and sophisticated hearing aid technology to rise to the top. I thank Steve for all that he brought to this company and look forward to continuing the vision we created together to achieve further growth and success.”
Throughout his career, Timm has held leadership positions with several organizations in the medical device industry, driving profitable growth in each role. Prior to joining Sivantos, he served as vice president, marketing and national sales for another hearing aid manufacturer. He also held roles in general management, marketing and business development at Cardinal Health, Premier, Inc., Monsanto, Bristol-Myers Squibb and 3M.
In addition to his professional experience, Timm received his bachelor’s degree from Gustavus Adolphus College and an MBA from the University of Wisconsin-Madison.
About the Sivantos Group
The business operations of the former Siemens AG hearing aid division have been combined into the Sivantos Group since early 2015. Sivantos can look back on 140 years of German engineering and countless global innovations. Today Sivantos is one of the leading hearing aid manufacturers worldwide. With its around 6,000 employees, the group recorded revenues of 967 million euros in the fiscal year 2016/2017 and an adj. EBITDA of 238 million euros. Sivantos' international sales organization supplies hearing care specialists and sales partners in more than 120 countries. Particularly high value is placed on product development. Sivantos aims to become the market leader in the coming years with its brands Signia, Siemens, Audio Service, Rexton, A&M, HearUSA and audibene. The owners of Sivantos are the anchor investors EQT along with the Strüngmann family as a co-investor. Sivantos GmbH is a brand license holder of Siemens AG. More information can be found at www.sivantos.com
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