Governance

For many years, Philips has pursued a consistent policy to improve its corporate governance in line with Dutch, US and international best practices.

We aim to deliver superior long-term value for our customers and shareholders, and we live up to the highest standards of ethics and governance in our culture and practices.

Governance

For many years, Philips has pursued a consistent policy to improve its corporate governance in line with Dutch, US and international best practices.

We aim to deliver superior long-term value for our customers and shareholders, and we live up to the highest standards of ethics and governance in our culture and practices.

Clear governance anchoring responsible business

Our leadership

Philips has a two-tier board structure consisting of a Board of Management and a Supervisory Board, each of which is accountable to the General Meeting of Shareholders. In managing Philips, the Board of Management is supported by certain key officers, together constituting the Executive Committee.

Executive Committee

Supervisory Board

How we work

The Philips Business System is our integrated operating model. It defines how we work together to meet the needs of our customers consumers, and achieve our company goals.

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Improving quality

We are committed to delivering the highest-quality products, services and solutions compliant with all applicable laws and standards.

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Remuneration policy

Our remuneration policy is designed to encourage employees to deliver on our purpose and strategy and create stakeholder value, and to motivate and retain them. Our executive long-term incentive plan includes environmental and social commitments.

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Managing risk

Our risk management is designed to provide reasonable assurance that strategic and operational objectives are met, legal requirements complied with, and the integrity of the company’s reporting and related disclosures safeguarded.

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Business ethics

At Philips, our General Business Principles set the standard for acting with integrity. They govern all our decisions and actions throughout the world and apply equally to our group actions and to our conduct as individuals.

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Transparency and stakeholder engagement

We are transparent about our plans, activities, results and contributions to society (e.g. tax reporting), and engage with shareholders, customers, business partners, governments and regulators through a variety of platforms.

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