July 20, 2017

Chief Business Leader of Philips’ Personal Health businesses Pieter Nota to leave company

Amsterdam, the Netherlands – Royal Philips (NYSE:PHG, AEX: PHI) today announced that Pieter Nota, Chief Business Leader of Philips’ Personal Health businesses and Chief Marketing Officer will be leaving the company to assume responsibility for sales and brand BMW on the Board of Management of BMW AG per January 1, 2018. His successor at Philips will be announced shortly.

 

“I want to thank Pieter for his outstanding contribution to Philips’ transformation and improving the performance of the Personal Health businesses,” said Frans van Houten, CEO of Royal Philips. “We have worked very well together for 6 years and it is with regret that I see him leave Philips. Our Personal Health businesses play an important role in Philips’ health technology strategy, delivering integrated, connected solutions to support healthier lifestyles and living with chronic disease. Pieter’s successor, who we expect to announce shortly, will be able to build on the growth and margin expansion momentum achieved over the last three years. On behalf of Philips’ Executive Committee and Supervisory Board, I wish Pieter all the best in his future endeavors.”

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health 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' health technology portfolio generated 2016 sales of EUR 17.4 billion and employs approximately 70,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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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.

 

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

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Steve Klink

Steve Klink

Philips Group Press Office

Tel: +31 6 10888824

Ksenija Gonciarenko

Ksenija Gonciarenko

Philips Investor Relations

Tel: +31 20 59 77055

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