Charlotte Hanneman to succeed Abhijit Bhattacharya as Philips’ Chief Financial Officer (CFO)

February 28, 2024

Proposal to appoint Ms. Hanneman as member of Philips’ Board of Management fulfilling the role of CFO per October 1, 2024

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the proposal to appoint Charlotte Hanneman as member of the Board of Management, fulfilling the role of Chief Financial Officer (CFO), effective October 1, 2024. The proposal will be submitted to the Annual General Meeting of Shareholders (AGM), to be held on May 7, 2024.

Ms. Hanneman will join Philips as a member of Philips’ Executive Committee on June 1, 2024, to start her induction and transition into the role, succeeding current CFO Abhijit Bhattacharya on October 1, 2024. Mr. Bhattacharya has been CFO and member of Philips’ Board of Management and Executive Committee since 2015 and will retire from the company after a successful 37-year career on September 30, 2024.

Ms. Hanneman (Dutch, 1978) will join Philips with over 20 years’ experience in the MedTech and pharmaceutical industries, most recently as Controller and Head of Financial Planning & Analysis at global medical technology company Stryker. In this current role, she is responsible for financial control, enterprise financial planning and analysis, and business development finance. She is also responsible for indirect procurement, and directly responsible for the finance teams across Europe, Middle East and Africa, Canada, and Latin America.

Prior to this, she held several international finance leadership roles at Stryker, and other multinational healthcare companies, including Merck, Schering-Plough and Organon. Ms. Hanneman has extensive experience working in the US and has lived in various countries across Asia and Europe. She holds a master’s degree in economics and an executive master of finance and control from Maastricht University, the Netherlands.

Roy Jakobs, CEO of Royal Philips said: “I would like to thank Abhijit for his significant contribution to the transformation of Philips into a health technology company. His dedication and leadership have made a major impact throughout his long 37-year career in the company. In the future, I will miss him for his character and the insight he brought to the boardroom, however, he will remain our CFO until the end of September, ensuring a smooth transition. On behalf of Philips’ Executive Committee, I wish him all the best in his future endeavors.”