The top executives of Sonova Holding AG will step down with immediate effect after an independent investigation found the Swiss hearing-aid maker was late in issuing a profit warning, allowing insiders to sell shares.
Sonova, the world’s largest hearing-aid maker, said Chief Executive Valentin Chapero and Chief Financial Officer Oliver Walker have resigned, while Chairman Andy Rihs will step down but remain on the company’s board.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn