Koninklijke Philips N : Frans van Houten discusses Philips’ transformation in FT ‘How to Lead’ interview

In a 'How to Lead' interview for the Financial Times, CEO Frans van Houten discusses Philips' transformation into a focused health technology leader, and what it took to get to the purpose-led innovation company it is today.

'I have a lot of love for the company. It's an icon in the Netherlands. For me, bringing it back to relevance was the justification to take whatever tough decision we had to,' he is quoted as saying. 'The best proof is the brand is stronger, the value of the company is stronger and we are growing.'

As evidence of Philips' willingness to invest in its relevance as a company committed to improving people's health and well-being through meaningful innovation, Frans points to the company's response to the coronavirus pandemic. That response included EUR 100 million investments to scale up production of products and solutions to help diagnose, treat, monitor, and manage COVID-19 patients.

'Normally it would have taken a year or longer. Because we are all acting as an operating company, that helps a lot, because then all your functions work in sync,' he is quoted as saying.