Van Houten stepping down as Philips CEO after 12 years
NL TimesFrans van Houten is stepping down as CEO of Philips. “The Supervisory Board and Van Houten have agreed that with the end of his third term in sight, the time is right for a change of leadership,” the company said in a statement. “I would like to thank Frans for his transformational leadership of Philips over the last nearly 12 years,” said Supervisory Board chairman Feike Sijbesma. “Guided by his vision and the execution of the strategic roadmap, he has successfully led the company’s transformation from a diversified industrial conglomerate to a focused, global solutions leader in health technology.” Van Houten called it a “privilege and a pleasure” to lead the transformation. “While I am proud of my accomplishments, much remains to be done to enhance the resilience of Philips to manage through current setbacks and adverse market conditions,” Van Houten said.
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