Philips provides update on composition of its Supervisory Board and proposes reappointment of Marnix van Ginneken as member of its Board of Management - Seite 2

As announced last October, Mrs. Indra Nooyi will also be proposed for appointment as a new member of the Philips Supervisory Board at the 2021 AGM. Mrs. Nooyi (American, 1955) is the former Chair and CEO of PepsiCo, a global food and beverages company with operations in over 180 countries. She was the chief architect of PepsiCo’s ‘Performance with Purpose’ pledge, and successfully delivered sustained growth by improving the nutritional value of the company’s products, limiting its environmental footprint, and empowering its associates and the people in the communities it serves.

Upon closing of the 2021 AGM, current Vice-Chairwoman Mrs. Christine Poon will retire from the Supervisory Board following the completion of her third consecutive term. In addition to the retirement of Mr. Van der Veer and Mrs. Poon, Mrs. Orit Gadiesh will step down from Philips’ Supervisory Board, after serving on the Board since 2014.

“I consider it a privilege to have served three terms on the Supervisory Board of Philips, ten years of which as Chairman,” said Jeroen van der Veer, Chairman of the Supervisory Board of Royal Philips. “I will hand over the reins to my successor Feike Sijbesma to lead the Board’s supervisory role as Philips delivers on its purpose of improving people’s health and well-being through meaningful innovation.”

Philips’ Supervisory Board will also propose to the AGM the reappointment of Marnix van Ginneken as a member of the Philips Board of Management. Mr. Van Ginneken is Philips’ Chief Legal Officer, and his reappointment is recommended in view of his broad knowledge of Philips and his extensive international corporate governance expertise, as well as the important role he has played in the Executive Committee since 2014.

“I am very pleased that Marnix remains available as a member of the Board of Management and as Chief Legal Officer,” said Mr. Van der Veer. “Providing valuable contributions on a wide array of subjects he has been instrumental in, among other things, managing Philips’ legal affairs, intellectual property and government affairs, and guiding execution of Philips’ strategic agenda and improvement of the company’s operational excellence.”

“On behalf of the Executive Committee and the Supervisory Board, I would like to express my deep gratitude to Jeroen van der Veer for his invaluable advice and partnership during Philips’ transformation into a health technology leader,” said Frans van Houten, CEO of Royal Philips. “I am also very grateful for the long-term counsel of Christine Poon during this important time, and would like to thank Orit Gadiesh for her much-valued support serving on the board. At the same time, we are pleased that Indra Nooyi and Chua Sock Koong are available to join as new members. As recognized global business leaders with deep expertise in areas ranging from sustainability to digitalization, their experience will be highly valuable as we progress on our journey to lead the transformation of healthcare with integrated solutions. We are also pleased to welcome Feike Sijbesma in his new role as Chairman. I look forward to continuing our mission to grow Philips together, aiming to improve the lives of 2 billion people a year by 2025.”