Kristian Teär, who has led the company since 2019, is leaving his post with immediate effect, Bang & Olufsen said in a press release. CFO Nikolaj Wendelboe will take over as acting CEO until a replacement is found.
In the second quarter of Bang & Olufsen's 2025/2026 financial year, the company's revenue fell by 3.9 percent year-on-year to DKK 1.1 billion. The operating margin excluding non-recurring items fell to minus 5.3 percent, compared to minus 0.4 percent a year earlier.
The forecast for sales growth in local currencies is lowered to 1-5 percent. Previously, it was 1-8 percent. Free cash flow is estimated to be between minus 50 and minus 100 million Danish kroner. Previously, that forecast was in the range of minus 0-100 million.
