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Sennheiser Group named 'Best Managed Company' 2024
Posted on Monday, May 27, 2024
Sennheiser Group named 'Best Managed Company' 2024

The audio specialist has been recognized as one of Germany's best-managed companies

Wedemark, May 27, 2024 – The Sennheiser Group has been awarded as "Best Managed Company" 2024. This prize, presented by Deloitte Private, UBS, the Frankfurter Allgemeine Zeitung, and the Federation of German Industries (BDI), honors exceptionally well-managed companies. For Sennheiser, this recognition is not only a confirmation of its successful growth strategy and innovative strength but also an appreciation of its strong corporate culture.

"We are very pleased to be recognized as a Best Managed Company. Our goal is to build the future of audio – achieving this requires a clear strategy, investments in the future, and courageous decisions. This is what we understand as responsible corporate management," says co-CEO Andreas Sennheiser. Among the company’s major strategic decisions of recent years is its focus on the professional audio business, which was accompanied by the exit from the consumer electronics business. A decision that enabled the family-owned company to further expand its strong position in the professional audio market.

"As an independent family business, we aim to grow sustainably on our own. To achieve this, we invest in our core competencies based on our strategy, and thus in the future. Of course, we act prudently and plan for the long term," adds co-CEO Daniel Sennheiser. Research and Development has been one of the company's most important investment areas for years. Strengthening the company's own supply chain to remain as independent as possible from global supply chains, advancing digitalization, and exploring new business fields are also central themes of the investment strategy.

Evaluation in four areas

The "Best Managed Company" award, presented by Deloitte Private, UBS, the Frankfurter Allgemeine Zeitung, and the Federation of German Industries (BDI), honors exceptionally well-managed companies. The evaluation is based on four key areas: 'Strategy,' 'Productivity and Innovation,' 'Culture and Commitment,' and 'Finance and Governance.' Sennheiser's unique corporate culture plays a significant role in this recognition. "We are very grateful for the amazing team we get to work with every day at Sennheiser; a globally diverse team where everyone gives their best daily to create unique sound experiences for our customers," explains co-CEO Daniel Sennheiser. His brother, Andreas Sennheiser, adds, "All the products and services we offer to our customers are based on the knowledge, experience, and passion of our employees. Therefore, it is essential to preserve our unique corporate culture. Additionally, we constantly question what we know, what we do, what we are capable of, and what new skills we need to acquire as a team."

International competition for best-managed companies

For the jury, the award winners are a role model for other companies to shape the future with strategic vision, innovative strength, a sustainable management culture and good corporate governance. "Sennheiser and the other award-winning companies are a strong foundation of our economy. They are doers, innovation leaders, and are committed to sustainable corporate management. These companies look far into the future and do not just think quarter to quarter. This is exactly why they deserve their recognition as a Best Managed Company," says Markus Seiz, Director at Deloitte Private and Head of the Best Managed Companies Program. With this award, Sennheiser now joins a network of the best-managed mid-sized companies in more than 45 countries. The award ceremony took place on May 23 in Frankfurt.