James J. Schiro to retire from the Supervisory Board of Royal Philips

July 25, 2014

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that James J. Schiro, Vice Chairman of its Supervisory Board and Chairman of the Remuneration Committee of its Supervisory Board, will step down in order to undergo treatment after a diagnosis of multiple myeloma.
 
“We deeply regret the departure of Jim Schiro who has been a member of Royal Philips’ Supervisory Board since 2005, said Jeroen van der Veer, Chairman of the Supervisory Board. “Jim’s vast experience and tireless commitment made him a key member of our Supervisory Board. On behalf of our Board, I thank Jim for his invaluable contribution and wish him and his family all the best.”

For further information, please contact:

Eeva Raaijmakers
Philips Group Communications
Tel: +31612350597
E-mail: eeva.raaijmakers@philips.com 

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About Royal Philips:

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2013 sales of EUR 23.3 billion and employs approximately 113,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

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