Arnd Kaldowski

Arnd Kaldowski serves as CEO of Sonova Holding, the world's largest hearing care company headquartered in Switzerland. Sonova's portfolio spans the full hearing care value chain: Hearing Instruments (Phonak — the world's #1 hearing aid brand, and Unitron — targeting the value segment), Audiological Care (AudioNova and other retail hearing care clinic chains — the world's largest network of hearing care clinics), and Cochlear Implants (Advanced Bionics — surgically implanted devices for severe hearing loss). The hearing care market is experiencing a structural inflection point: over 1.5 billion people globally suffer from some degree of hearing loss, but hearing aid adoption rates remain remarkably low (only approximately 20% of people who could benefit from hearing aids actually use them). Recent regulatory changes — particularly the FDA's decision to allow over-the-counter (OTC) hearing aids in the U.S. — are expanding market access and awareness, though also introducing new competitive dynamics. Sonova's technology leadership is built on advanced digital signal processing, Bluetooth connectivity (hearing aids now stream audio directly from smartphones), rechargeable battery technology, and increasingly sophisticated AI-driven sound processing that automatically adapts to different listening environments. Key stock drivers include hearing aid unit volumes and average selling prices, OTC market development, audiological care same-store growth, Advanced Bionics competitive positioning, new product launches (technology cycles drive upgrade demand), and the competitive dynamics with Demant, GN Audio, and WS Audiology.