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    PHIA   NL0000009538

PHILIPS NV

(PHIA)
  Report
Real-time Euronext Amsterdam  -  11:36 2022-11-29 am EST
14.08 EUR   +0.67%
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Philips shareholders appoint Roy Jakobs as next President and Chief Executive Officer

10/03/2022 | 09:26am EST

Amsterdam - Royal Philips (NYSE: PHG, AEX: PHIA) announced that today's Extraordinary General Meeting of Shareholders (EGM) appointed Roy Jakobs as the company's next President and Chief Executive Officer, effective October 15, 2022, succeeding current President and Chief Executive Officer Frans van Houten.

'I am very pleased that Roy Jakobs has been appointed today as the next CEO of Philips,' said Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips. 'On behalf of the entire Supervisory Board, I would like to thank Frans for successfully leading Philips' transformation into a focused, global solutions leader in health technology. We are convinced that Roy is the right successor to lead Philips' efforts to help improve the health and well-being of people globally, and further shape the company for increased value creation for shareholders and all other stakeholders.'

'I have enjoyed and feel deeply privileged for having been given the opportunity to shape Philips onto a path of future relevance as we embraced health and healthcare innovation as our company focus,' said Frans van Houten, CEO of Royal Philips. 'Much has been achieved in the past 12 years and I want to thank the many passionate, talented colleagues who have made this possible. Nevertheless, much remains to be done, and this will now be the task of the Executive Committee under the leadership of my successor. I wish Roy and the team much success.'

'I am honored to be appointed as the next CEO of Philips, and together with our Philips colleagues continue to help improve people's health and well-being with meaningful innovations,' said Roy Jakobs, incoming CEO of Royal Philips. 'Philips is a unique company with a strong brand, more than 130 years of innovation power and a bright future as a leader in health technology solutions. I look forward to leading the company in a transparent way, empowering our people as we address the current challenges, while also shaping the next chapter of Philips.'

Contact:

Elco van Groningen

Tel: +31 6 8103 9584

(C) 2022 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on PHILIPS NV
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Financials
Sales 2022 17 374 M 17 965 M 17 965 M
Net income 2022 -1 445 M -1 494 M -1 494 M
Net Debt 2022 5 815 M 6 013 M 6 013 M
P/E ratio 2022 -10,6x
Yield 2022 5,69%
Capitalization 12 466 M 12 890 M 12 890 M
EV / Sales 2022 1,05x
EV / Sales 2023 1,04x
Nbr of Employees 78 831
Free-Float 99,4%
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Mean consensus HOLD
Number of Analysts 16
Last Close Price 14,08 €
Average target price 15,91 €
Spread / Average Target 13,0%
EPS Revisions
Managers and Directors
Roy Jakobs President & Chief Executive Officer
Abhijit Bhattacharya Chief Financial Officer & Executive Vice President
Feike Sijbesma Chairman-Supervisory Board
Jan Kimpen Chief Medical Officer
Shez Partovi Chief Medical, Innovation & Strategy Officer
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