Amplifon : initiates the leadership transition process in the light of continuity and growth

ENG CoS TR 2015 x sito AMPLIFON INITIATES THE LEADERSHIP TRANSITION PROCESS IN THE LIGHT OF CONTINUITY AND GROWTH

JOINTLY WITH THE CEO FRANCO MOSCETTI, THE COMPANY HAS INITIATED THE TRANSITION IN THE GROUP LEADERSHIP BY IDENTIFYING THE CURRENT CHIEF OPERATING OFFICER ENRICO VITA AS A CANDIDATE FOR THE POSITION OF CEO
FRANCO MOSCETTI WAIVES HIS OFFICE AS CHIEF EXECUTIVE OFFICER FROM OCTOBER 22ND, 2015 AFTER
10 YEARS IN THE ROLE, REACHING OUTSTANDING ACCOMPLISHMENTS FOR THE GROUP'S INTERNATIONAL DEVELOPMENT AND FINANCIAL PERFORMANCE
IN OCTOBER 2015 A SHAREHOLDER'S MEETING WILL TAKE PLACE TO RESOLVE UPON THE INTEGRATION OF THE BOARD OF DIRECTORS

Milan, July 23rd 2015: The Board of Directors of Amplifon S.p.A. informs that the Company jointly agreed with the Chief Executive Officer Franco Moscetti at the conclusion of a fully shared path -considering substantially achieved the goals set for his mandate - that the time has come for initiating a leadership transition marked by continuity and thus focused on pursuing growth and strengthening the Group's competitive advantage. Following this perspective, Franco Moscetti waives his office as Chief Executive Officer with effect from the Board of

Directors' meeting to be held on October, 22nd. From the aforementioned date onwards he will continue as a non- executive Deputy Chairman until the end of the mandate.
In this context, the Board of Directors delegated the Chairman to call a Shareholder's Meeting to be held in October, in order to elect a new Director who shall be appointed as Chief Executive Officer by the Board of Directors during the meeting on October, 22nd.
According to the proposal put forward by the Remuneration and Appointment Committee, which carried out the appropriate process for the identification and evaluation of the candidates for the position of Chief Executive Officer, the Board of Directors informs to have identified Enrico Vita, current Chief Operating Officer, as the candidate fully meeting the requirements of leadership and competencies requested to hold the position. Thus the Board of Directors, in view of the Shareholders' meeting to be convened shortly, recommends to the Shareholders the candidacy of Enrico Vita as a member of the Board. Enrico Vita, born in 1969, with a degree in Mechanical Engineering from the University of Ancona, developed his professional career within the Indesit Group where, over almost 20 years, he held positions with growing responsibility in Italy and abroad, until becoming Group Supply Chain Officer. After an experience as Managing Director UK & Ireland, he became Chief Operating Officer - Sales and Marketing. In March 2014 he joined the Amplifon Group as Executive Vice President EMEA (Europe, Middle East and Africa) and in March 2015 he was appointed Chief Operating Officer.
The Chairman Susan Carol Holland expresses her sincere gratitude to Franco Moscetti on behalf of the entire Board of Directors and the Statutory Board for the outstanding accomplishments reached as Chief Executive Officer during his over 10-year-long mandate. Under his guidance the Group has reached and gradually consolidated its worldwide leadership in the distribution and fitting of personalized hearing solutions, increasing its presence from 10 to 22 countries and doubling its revenue, EBITDA, net profit and market capitalization. The Chairman shows, moreover, her deep appreciation for the process of development of the Group Management Team leading to the constant strengthening of the organization and allowing the identification of an internal candidate for the succession, in the perspective of an exemplar continuity.

Investor Relations: Amplifon S.p.A. Emilia Trudu

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Media Relations: Edelman Italia Luciano Luffarelli

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