Dec 17, 2019

Philips to nominate Feike Sijbesma and Peter Löscher as members of the Supervisory Board

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it will propose the appointments of Feike Sijbesma and Peter Löscher as new members of the Supervisory Board to the Annual General Meeting of Shareholders (AGM), which will be held on April 30, 2020.

“We are pleased that Feike Sijbesma and Peter Löscher are available to join Philips’ Supervisory Board,” said Jeroen van der Veer, Chairman of the Supervisory Board of Royal Philips. “Mr. Sijbesma is a recognized business and sustainability leader, while Mr. Löscher is a seasoned business leader in the medical technology and pharmaceutical industries. Their outstanding experience will be highly valuable to Philips, as the company is expanding its leadership in health technology solutions, on a mission to make the world healthier and more sustainable through innovation.”

Feike Sijbesma is a recognized business and sustainability leader, while Peter Löscher is a seasoned business leader in the medical technology and pharmaceutical industries. Their outstanding experience will be highly valuable to Philips.

Jeroen van der Veer

Chairman of the Supervisory Board of Royal Philips

Subject to his appointment, Mr. Sijbesma will become Vice-Chairman alongside the current Vice-Chairwoman Christine Poon, whose third term will expire in 2021.

Additionally, Philips will propose the re-appointment of Ms. Neelam Dhawan (Indian, 1959) for a period of two years as member of the Supervisory Board in light of her in-depth knowledge of the IT industry, including software engineering, research and IT services. Subject to her re-appointment, Ms. Dhawan will retain her current position within the Audit Committee.

Mr. Sijbesma (Dutch, 1959) currently is CEO and Chairman of the Managing Board of Royal DSM. Under his leadership, DSM has gone through a significant transformation and repositioned itself from a chemical company into a life sciences & materials sciences company. After 20 years on the DSM Managing Board and almost 13 years as its CEO, Mr. Sijbesma recently decided to step down as DSM’s CEO and leave the company per May 1, 2020.

Mr. Löscher (Austrian, 1957) has held various executive leadership positions in the medical technology and pharmaceutical industries, including as President and CEO of Siemens AG, President of Global Human Health and Member of the Executive Board of Merck & Co., and CEO of GE Healthcare Bio-Sciences and member of GE’s Corporate Executive Council.

For more information about Philips’ Supervisory Board, please follow this link.

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 generated 2018 sales of EUR 18.1 billion and employs approximately 80,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.