Amsterdam, the Netherlands - Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that Roy Jakobs is proposed to succeed Frans van Houten as President and Chief Executive Officer, effective October 15, 2022.
The Supervisory Board and current Philips CEO Frans van Houten have agreed that with the end of his third term in sight, the time is right for the change in leadership. After a comprehensive evaluation of external and internal candidates, the Supervisory Board has unanimously decided to propose Roy Jakobs as the next President and CEO of Royal Philips to its General Meeting of Shareholders.
Roy Jakobs brings a strong international, operational and transformational track record, as well as a deep understanding of Philips, which is critical at this important juncture in the company's growth journey. Roy Jakobs has been successful in turning around businesses in customer-focused growth organizations and has effectively strengthened the company’s Connected Care portfolio through successful acquisitions across hospital and ambulatory care settings. Since taking on responsibility for the voluntary recall notification/field safety notice for specific Respironics devices on behalf of Philips, substantial progress has been made under his leadership in the execution of the comprehensive program aimed at delivering a resolution to affected patients as fast as possible in consultation with the relevant competent authorities.
An Extraordinary General Meeting (EGM) of shareholders will be held on September 30, 2022, to appoint Roy Jakobs as President and CEO, effective October 15, 2022. Frans van Houten will act as advisor to the company – supporting the transition – until April 30, 2023.
"On behalf of the entire Supervisory Board, I would like to thank Frans for his transformational leadership of Philips over the last nearly 12 years,” said Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips. “Guided by his vision and the execution of the strategic roadmap, he has successfully led the company’s transformation from a diversified industrial conglomerate into a focused, global solutions leader in health technology. Building on its 131-year heritage, he repositioned Philips to significantly enhance the future value-creating prospects of the company. Frans led Philips with genuine care for its customers, patients, and its employees.”