Market: Philips announces the departure of CEO Frans van Houten in October

AMSTERDAM (Reuters) – Philips announced on Tuesday the unexpected departure of its chief executive, Frans van Houten, who will be replaced on October 15 by Roy Jakobs, a member of the group’s executive committee.

Over the past year, the Dutch health-tech company has been dealing with the fallout of a massive recall of breathing aids.

“The supervisory board and current Philips chief executive Frans van Houten have agreed that with the end of his third term in sight, the time has come for a change in management,” Philips said in a statement. communicated.

An extraordinary general meeting of shareholders will be held on September 30 to appoint his successor, Roy Jakobs, who joined the company in 2010.

During his nearly 12-year tenure at the helm of Philips, Frans van Houten led the transformation of the once sprawling conglomerate into a healthcare specialist by divesting itself of its lighting and consumer electronics divisions. .

Philips, which now focuses on medical imaging, monitoring and diagnostic equipment, competes with General Electric and Siemens Healthineers.

(Bart Meijer report; French version Kate Entringer, edited by Tangi Salaün)

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