SALT LAKE CITY, Aug. 11 Sonic Innovations, Inc.(Nasdaq: SNCI), the only U.S.-based publicly traded manufacturer of digitalhearing aids, announced today that Paul R. Wennerholm has joined the companyas president and chief operating officer.
Mr. Wennerholm was previously with Patterson Companies, Inc., a $3.6billion dental, rehabilitative and health supply company, with operationsthroughout the world. Wennerholm has held several positions of increasingresponsibility with Patterson, and most recently headed one of the mostsuccessful divisions at Patterson.
"Paul brings a tremendous amount of leadership, sales, operational and P&Lexperience to Sonic, and I am very pleased we were able to invite him to joinour organization," said Sonic Innovations Chairman and CEO, Sam Westover."Paul's primary responsibility in the immediate term will be to provide hisexecutive sales management expertise to our North American wholesaleorganization. He has a proven track record as a sales executive, and I amlooking forward to his immediate contributions to that organization."
Regarding the appointment of a president and chief operating officer, Mr.Westover noted, "Sonic has made great strides over the past several yearsfocusing on and executing a successful strategic plan and we are seeing thefinancial results from those initiatives. It is important that we maintainour focus on those activities, which is what I have asked Paul to do."
Wennerholm holds a Bachelor of Arts degree in Political Science withminors in Economics and Spanish from Brigham Young University. He is a formerboard member of the Horton Valve Company and is involved in variousprofessional and community organizations.
ABOUT SONIC INNOVATIONS:
Sonic Innovations is a global provider of superior hearing solutions. Thecompany is passionate about quality, technology, and improving lives throughenhanced hearing. Sonic Innovations is dedicated to the growth and success oftheir hearing-healthcare partners.
Sonic Innovations, headquartered in Salt Lake City, Utah, hasinternational offices and manufacturing centers across the globe. SonicInnovations and their distributor partners provide hearing care services andsolutions in more than 25 countries. Sonic Innovations is listed on the NASDAQGlobal Market System (SNCI) and can be found online at http://www.sonici.com.
Sonic Innovations' partners have prescribed more than 1,000,000 Sonichearing instruments.
This press release may contain "forward-looking statements" as definedunder securities laws. Actual results may differ materially and adverselyfrom those described herein depending on a number of factors including, butnot limited to, the following risks: we face aggressive competition in ourbusiness; acquisitions could be difficult to integrate and disrupt our currentbusiness and therefore may harm our operating results; we may not launch moreproduct lines this year; our products may not help people hear better or morenaturally; we may poorly operate newly acquired businesses; we may lose alarge customer or suffer a reduction in orders from a large customer; we musthave innovative, technologically superior products to compete effectively; ourproducts, due to their complexity, may contain errors or defects that are onlydiscovered after sales by our customers, thus harming our reputation andbusiness; we may have issues with intellectual property; and we have importantinternational operations, which expose us to a variety of risks includinggovernment reimbursement, that could impact sales and operating results. Foradditional information regarding the risks inherent in our business, pleasesee "Factors That May Affect Future Performance" included in our Annual Reporton Form 10-K for the year ended December 31, 2007, as filed with theSecurities and Exchange Commission.
We undertake no obligation to r