Amsterdam, The Netherlands – Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced that its Supervisory Board has agreed to appoint Jeroen van der Veer as its next Chairman, effective upon the closing of the 2011 General Meeting of Shareholders on March 31st.
Mr. van der Veer will succeed Jan-Michiel Hessels, who will retire from the Supervisory Board, which he joined in 1999 and served as its Chairman for the past three years. Mr. van der Veer has been a member of the Supervisory Board since 2009. He is a former Chief Executive of Royal Dutch Shell, and in addition to Philips currently holds non-executive board positions at ING, Shell and Unilever.
“I would like to thank Jan-Michiel Hessels for more than a decade of dedication to Philips. In his role as chairman, I have always valued his stewardship and counsel in our transformation into a health and well-being company,” said Philips President and Chief Executive Officer, Gerard Kleisterlee. “We are pleased to welcome Jeroen van der Veer in his new role as Chairman of the Supervisory Board. His extensive experience will be invaluable in helping Philips’ Board of Management achieve the company’s ambitions for growth.”
In view of the retirement of Mr. Hessels, the Supervisory Board of Philips will propose the appointment of Jackson Tai as a new member. Mr. Tai is former vice-chairman and CEO of DBS Group Holdings Ltd and is currently member of the Board of Directors of NYSE Euronext. The Supervisory Board will also propose to the 2011 Annual General Meeting of Shareholders the re-appointment of John Thompson, Cees van Lede and Heino von Prondzynski.
As previously announced , shareholders will vote at the meeting as well on the proposal to appoint Frans van Houten as Philips’ next President and Chief Executive Officer succeeding Gerard Kleisterlee, who will retire from Philips per the end of March.
The shareholders will also vote on the proposed appointment of Ron Wirahadiraksa and Pieter Nota to Philips’ Board of Management. Mr. Wirahadiraksa will succeed Pierre-Jean Sivignon as Chief Financial Officer, while Mr. Nota has been Chief Executive Officer of the Consumer Lifestyle sector since September 2010.
Click here to view the agenda and explanatory notes of the AGM as well as all documents relating to the AGM.
Philips’ Annual General Meeting of Shareholders will be held at the Hotel Okura in Amsterdam on March 31, 2011, beginning at 10:00 hours CET.