Philips provides update on composition of its Supervisory Board and proposes reappointment of Marnix van Ginneken as member o...
February 23 2021 - 2:00AM
Philips provides update on composition of its Supervisory Board and
proposes reappointment of Marnix van Ginneken as member of its
Board of Management
February 23, 2021
- Current Chairman Jeroen van der Veer and Vice-Chairwoman Mrs.
Christine Poon to retire from Philips’ Supervisory Board after
their third consecutive term, effective upon closing of the 2021
Annual General Meeting of Shareholders
- Mrs. Orit Gadiesh, Philips’ Supervisory Board member since
2014, to step down
- Philips’ Supervisory Board appoints Feike Sijbesma as its
Chairman and Paul Stoffels as its Vice-Chairman
- Mrs. Chua Sock Koong and Mrs. Indra Nooyi to be proposed as new
members of the Supervisory Board
- Philips Chief Legal Officer Marnix van Ginneken proposed for
reappointment as a member of Philips’ Board of Management
Amsterdam, the Netherlands – Royal Philips
(NYSE: PHG, AEX: PHIA), a global leader in health technology, today
announced that its Supervisory Board has appointed Feike Sijbesma
as the Supervisory Board’s new Chairman, effective upon the closing
of Philips’ 2021 Annual General Meeting of Shareholders (AGM) on
May 6, 2021. Mr. Sijbesma (Dutch, 1959) has been a member and
Vice-Chairman of Philips’ Supervisory Board since 2020, and will
succeed the current Chairman Jeroen van der Veer (Dutch, 1947), who
will retire. Mr. Van der Veer joined the Supervisory Board in 2009
and has served for three consecutive terms. Since 2011, he has been
the Supervisory Board’s Chairman, leading the stewardship and
oversight of Philips during a defining phase as the company pivoted
to a focused health technology leader.
Furthermore, the Supervisory Board has appointed Paul Stoffels
as its new Vice-Chairman. Mr. Stoffels (Belgian, 1962) has been a
member of Philips’ Supervisory Board since 2018.
Philips has also announced that it will propose to the AGM the
appointment of Mrs. Chua Sock Koong as a new member of the
Supervisory Board. The appointment of Mrs. Chua (Singaporean, 1957)
is recommended because of her in-depth knowledge of information
technology and digitalization. She is the former CEO of Singapore
Telecommunications Limited (Singtel), Asia’s leading communications
technology group. During her tenure as Singtel CEO from 2007 till
2020, Mrs. Chua extended the company’s footprint to 21 countries,
including Singapore, Australia, India and Indonesia, and led
Singtel’s digital transformation. This included the digitalization
of its core telecom business and the growth of new digital
businesses. Prior to her appointment as CEO of Singtel, Mrs. Chua
held various executive leadership positions, including the role of
CFO.
As announced last October, Mrs. Indra Nooyi will also be
proposed for appointment as a new member of the Philips Supervisory
Board at the 2021 AGM. Mrs. Nooyi (American, 1955) is the former
Chair and CEO of PepsiCo, a global food and beverages company with
operations in over 180 countries. She was the chief architect of
PepsiCo’s ‘Performance with Purpose’ pledge, and successfully
delivered sustained growth by improving the nutritional value of
the company’s products, limiting its environmental footprint, and
empowering its associates and the people in the communities it
serves.
Upon closing of the 2021 AGM, current Vice-Chairwoman Mrs.
Christine Poon will retire from the Supervisory Board following the
completion of her third consecutive term. In addition to the
retirement of Mr. Van der Veer and Mrs. Poon, Mrs. Orit Gadiesh
will step down from Philips’ Supervisory Board, after serving on
the Board since 2014.
“I consider it a privilege to have served three terms on the
Supervisory Board of Philips, ten years of which as Chairman,” said
Jeroen van der Veer, Chairman of the Supervisory Board of Royal
Philips. “I will hand over the reins to my successor Feike Sijbesma
to lead the Board’s supervisory role as Philips delivers on its
purpose of improving people’s health and well-being through
meaningful innovation.”
Philips’ Supervisory Board will also propose to the AGM the
reappointment of Marnix van Ginneken as a member of the Philips
Board of Management. Mr. Van Ginneken is Philips’ Chief Legal
Officer, and his reappointment is recommended in view of his broad
knowledge of Philips and his extensive international corporate
governance expertise, as well as the important role he has played
in the Executive Committee since 2014.
“I am very pleased that Marnix remains available as a member of
the Board of Management and as Chief Legal Officer,” said Mr. Van
der Veer. “Providing valuable contributions on a wide array of
subjects he has been instrumental in, among other things, managing
Philips’ legal affairs, intellectual property and government
affairs, and guiding execution of Philips’ strategic agenda and
improvement of the company’s operational excellence.”
“On behalf of the Executive Committee and the Supervisory Board,
I would like to express my deep gratitude to Jeroen van der Veer
for his invaluable advice and partnership during Philips’
transformation into a health technology leader,” said Frans van
Houten, CEO of Royal Philips. “I am also very grateful for the
long-term counsel of Christine Poon during this important time, and
would like to thank Orit Gadiesh for her much-valued support
serving on the board. At the same time, we are pleased that Indra
Nooyi and Chua Sock Koong are available to join as new members. As
recognized global business leaders with deep expertise in areas
ranging from sustainability to digitalization, their experience
will be highly valuable as we progress on our journey to lead the
transformation of healthcare with integrated solutions. We are also
pleased to welcome Feike Sijbesma in his new role as Chairman. I
look forward to continuing our mission to grow Philips together,
aiming to improve the lives of 2 billion people a year by
2025.”
More information about the 2021 AGM will be published in due
course. Additional information about the Board of Management and
the Supervisory Board can be found here.
For further information, please contact:
Ben ZwirsPhilips Global Press OfficeTel.: +31 6 15213446E-mail:
ben.zwirs@philips.com
Derya GuzelPhilips Investor RelationsTel.: +31 20 59
77055E-mail: derya.guzel@philips.com
About Royal PhilipsRoyal Philips (NYSE: PHG,
AEX: PHIA) is a leading health technology company focused on
improving people's health and well-being, and enabling better
outcomes across the health continuum – from healthy living and
prevention, to diagnosis, treatment and home care. Philips
leverages advanced technology and deep clinical and consumer
insights to deliver integrated solutions. Headquartered in the
Netherlands, the company is a leader in diagnostic imaging,
image-guided therapy, patient monitoring and health informatics, as
well as in consumer health and home care. Philips generated 2020
sales of EUR 19.5 billion and employs approximately 82,000
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
Forward-looking statements This release
contains certain forward-looking statements with respect to the
financial condition, results of operations and business of Philips
and certain of the plans and objectives of Philips with respect to
these items. Examples of forward-looking statements include
statements made about the strategy, estimates of sales growth,
future EBITA, future developments in Philips’ organic business and
the completion of acquisitions and divestments. By their nature,
these statements involve risk and uncertainty because they relate
to future events and circumstances and there are many factors that
could cause actual results and developments to differ materially
from those expressed or implied by these statements.
- Feike Sijbesma
- Chua Sock Koong
- Indra Nooyi
- Marnix van Ginneken
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