Board of Management and Executive Committee
The Rules of Procedure for the Board of Management and Executive Committee include provisions regarding meetings, resolutions, minutes, (vice) chairmanship, trading in securities and conflicts of interests.
Royal 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 for the fulfillment of its respective duties. The Board of Management is entrusted with the management of the company. The other members of the Executive Committee have been appointed to support the Board of Management in the fulfillment of its managerial duties.
(Re-)appointment
Members of the Board of Management and the President/CEO are appointed for a maximum term of four years, it being understood that this maximum term expires at the end of the following shareholders’ meeting to be held in the fourth year after the year of their appointment or, if applicable, on a later pension or contractual termination date in that year, unless the General Meeting of Shareholders resolves otherwise. Re-appointment is possible for consecutive maximum terms of four years.
(Re-)appointment Schedule Board of Management
| Name | Date of initial Appointment | Date of (last) Reappointment | End of Term* |
| Roy Jakobs | October 15, 2022 | - | 2026 |
| Charlotte Hanneman | May 7, 2024 | - | 2028 |
| Marnix van Ginneken | November 1, 2017 | May 8, 2025 | 2029 |
*As laid down in Articles of Association
Remuneration
The remuneration of the individual members of the Board of Management is determined by the Supervisory Board on the proposal of the Remuneration Committee of the Supervisory Board, and is consistent with the current Remuneration Policy for members of the Board of Management, as adopted by the General Meeting of Shareholders in 2024. The objectives of the Remuneration Policy for the Board of Management are in line with those for Philips Executives throughout the Philips group: to focus them on pursuing our purpose to improve people’s health and well-being through meaningful innovation, and on delivering on our strategy, to motivate and retain them to create superior, long-term stakeholder value. Please refer to the Remuneration Policy for more information on its objectives and principles.
A full and detailed description of the composition of the remuneration of the individual members of the Board of Management is included in the Remuneration Report 2024.
