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Rapid Micro Biosystems Hires Senior Vice President of Strategy

LOWELL, Mass., Feb. 23, 2021 (GLOBE NEWSWIRE) — Rapid Micro Biosystems, the leading provider of automated, non-destructive, rapid microbial detection, is pleased to announce the appointment of Gurinder Grewal as Senior Vice President of Strategy, reporting directly to the company’s CEO, Robert Spignesi.

In this newly created role, Grewal will be responsible for owning and executing on the company’s significant growth plans. Rapid Micro Biosystems has a truly unique market position in a very large and expanding global market opportunity. Grewal is responsible for driving the company’s global corporate strategy, marketing, product management, government affairs, and business development efforts to expand its capabilities as a significant and highly value-added partner to our customers. Grewal brings 20+ years of corporate and financial strategy, business development, and investment experience to RMB. He joins the company from Advent International, a highly successful global, growth-oriented private equity firm where, over 12 years, he grew his career from Principal to Partner & Managing Director. He led numerous private equity investments, where he closely partnered with management teams and developed strategies to drive significant organic and inorganic revenue and earnings growth. Prior to Advent, Grewal spent five years at Bain Capital where he built his career from Associate to Vice President. He started his career at Credit Suisse, where he was an Analyst on the investment banking team. Grewal holds an MBA from the Harvard Business School, and an HBA from the Richard Ivey School of Business at the University of Western Ontario in Canada.

“Rapid Micro Biosystems is at a critical time of growth. Gurinder brings a wealth of experience and will play a leading role in helping us expand our customer base and accelerating our growth,” said Spignesi. “His contributions will be critical to achieving our global growth ambitions and reinforcing Rapid Micro Biosystems’ position as the leader in automated microbial quality control solutions.”

“I am extremely excited to be joining Rapid Micro Biosystems at such an incredible time in the Company’s journey and to be part of a world-class management team,” said Grewal. “I look forward to partnering with the team to achieve our ambition of significant long-term growth by focusing on our market and our customers.”

We are excited to welcome Gurinder to the Executive Leadership Team.

About Rapid Micro Biosystems

Rapid Micro Biosystems (RMB) creates, sells, validates and services innovative products for fast, accurate, and efficient detection of microbial contamination in the manufacture of pharmaceuticals, biologics, biotechnology products, medical devices, and personal care products. The company’s Growth Direct™—the first and only growth-based system to automate rapid compendial QC Micro testing—ensures data integrity, compliance, and operational efficiencies driven by rapid methods and automation. RMB is dedicated to providing groundbreaking technology and products to support companies in their journey to achieve greater reliability, efficiency, and better predictability, ultimately providing higher quality products for improved patient outcomes. For more information, visit www.rapidmicrobio.com. Follow RMB at @rapidmicrobio or LinkedIn.

For more information contact:

Courtney Makolandra
Rapid Micro Biosystems
Email: CMakolandra@rapidmicrobio.com
Tel. 978.349.3200
Fax. 978.349.2065

 

Wasabi Announces the Return of IT Pro Nate, the Everyday Hero, Asking “Can You See It Now?”

Nate is back with his CFO Kate to show businesses just how much money they can save when choosing Wasabi

Boston, Feb. 23, 2021 (GLOBE NEWSWIRE) — Wasabi, the hot cloud storage company, today launched its second digital campaign (#MigrateWithNate) featuring ‘Nate,’ the IT guy returning with another critical message for businesses leaders: “Can you see that you are overpaying for your data storage, but migrating to Wasabi can save you thousands a year?”

Wasabi continued to work with digital marketing firm WalkWest along with viral content creator Penn Holderness of The Holderness Family, who served as creative lead for the marketing campaign, which urges IT professionals to take another look at the cost behind storing their data with large cloud storage vendors like Amazon. This is a follow-up to Wasabi’s pilot “Migrate with Nate” digital campaign which experienced success with over 2 million video views and impressions.

In the ballad, Nate partners with Kate, the CFO who both are urging their boss to reconsider their cloud storage vendor, as it’s costing $80,000 a month. They urge him to come around and use Wasabi, the hot company that is 80% cheaper than Amazon S3 with no fees for egress or API requests.

IT directors and heads of organizations, like CFOs, can rest assured that migrating to Wasabi will not only save them money but also give them peace of mind that they are storing their data securely while having scalability to manage the exponential data growth that is going to happen.

“If this past year has taught us anything, it’s that besides their people, data is the most valuable asset a company can protect, and this should not come with a hefty price tag,” said Michael Welts, CMO of Wasabi. “In this campaign, the facts Nate and Kate highlight portray the challenges many IT and financial professionals face. Their efforts work to convince those in the C-Suite that a behemoth first-generation cloud-storage solution is not the best or most cost-efficient option. It’s a complaint we constantly hear from customers and one that we’re happy to help them solve with an endlessly affordable bottomless cloud that is fast and secure.”

While this campaign pokes fun at the wonders of Amazon from a consumer perspective, it also serves as a unique tactic for channel partners to connect with their customers in an unconventional way. If you don’t believe us, just listen to what our partners have to say:

“When speaking with customers, two challenges always come up – storage costs and limited vendor performance,” said Randy Jones, Director of Alliances for Climb. “What I love so much about Wasabi’s Migrate with Nate campaign is that it speaks to those two challenges in an engaging, fun and realistic way. Partners and Customers appreciate a different approach to communicating a technology’s value and it stays with them.”

“Wasabi’s Migrate with Nate campaign perfectly encapsulates the IT pro experience. I’ve heard the story of a thankless boss or concerned finance lead all too many times when speaking with my customers,” said Blake Hawkes, Regional VP of Sales for Trace3. “I love sharing Migrate with Nate content with my network. It’s received so well not only because it’s funny and entertaining, but because it hits directly on the data storage challenges facing so many companies today.”

As the rate of cloud migration continues to increase, it is important that companies are made aware of the options available to them to store their data safely and affordably. All of that can be done with the help of Wasabi. Meet Nate and Kate here.

About Wasabi:

Wasabi provides simple, predictable and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an infinite amount of data at 1/5th the price of the competition with no complex tiers or unpredictable egress fees. Trusted by tens of thousands of customers worldwide, Wasabi has been recognized as one of technology’s fastest-growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi has secured $140 million in funding to date and is a privately held company based in Boston.

Follow and connect with Wasabi on TwitterFacebook, Instagram and our blog.

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Nick Brown
InkHouse for Wasabi
wasabi@inkhouse.com

 

Constellation Brands Announces New and Expanded Responsibilities for Executives Jim Sabia and Mallika Monteiro

Jim Sabia

Managing Director, Beer Division

Jim Sabia assumes new role of Managing Director, Beer Division;
Mallika Monteiro’s role expanded to Chief Growth, Strategy and Digital Officer

VICTOR, N.Y., Feb. 23, 2021 (GLOBE NEWSWIRE) — Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, today announced new and expanded responsibilities for two members of its Executive Management Committee, effective March 1, 2021. Jim Sabia, who has served as Constellation’s Executive Vice President and Chief Marketing Officer since 2018, has assumed the newly created role of Executive Vice President and Managing Director, Beer Division, with responsibility for leading the division’s operations services and commercial business functions. Constellation’s Chief Marketing Officer role will remain open in the near-term, but given the importance of this role to the company’s long-term growth aspirations, Constellation will look to fill this position over time. Mallika Monteiro will assume expanded responsibilities as Executive Vice President and Chief Growth, Strategy and Digital Officer. In addition to her current responsibilities leading the company’s growth and strategy functions, she will assume added responsibility for leading the company’s media initiatives, including digital marketing, 3-Tier ecommerce, and Constellation Ventures (which focuses on investing in early stage start-ups in the beverage alcohol space and adjacent categories).

“Our company has had a great deal of success over the past decade, and we have bold ambitions for the future as well,” said Bill Newlands, Constellation’s president and CEO. “To achieve our long-term aspirations, it is critical that we continue to invest in broadening the knowledge, perspective and capabilities of our leaders. These moves will help us do just that. Both Mallika and Jim will continue to work closely with the rest of our executive management committee to further build on our success.”

Mallika Monteiro

Chief Growth, Strategy & Digital Officer

Sabia joined Constellation Brands in 2007 as Vice President, Marketing for the company’s spirits business. He was promoted to Chief Marketing Officer of Constellation’s beer division in 2009 and to Executive Vice President, Chief Marketing Officer for Constellation’s full portfolio in 2018. Under Sabia’s leadership, growth trends for the company’s beer portfolio significantly outpaced the U.S. beer market and, upon the assumption of responsibilities for the full portfolio, he played an instrumental role in the transformation of the company’s Wine & Spirits business, working to build consumer affinity for the company’s premium portfolio of powerhouse wine and spirits brands.

“We have some of the most iconic, consumer-loved brands in the industry, and the very best teams behind them,” said Sabia. “I look forward to continuing to work with the team to drive a consumer-obsessed mindset across our business as we progress towards our long-term growth aspirations.”

Monteiro joined Constellation Brands in 2016 as Vice President, Beer Innovation, and has gone on to hold a number of roles with increasing leadership responsibility across consumer and category insights, innovation and new product development across beer, wine and spirits, as well as leading the company’s strategy development and business transformation functions.

Monteiro has made significant contributions to help strengthen the company’s innovation process, including leading the development of one of Constellation’s most successful new product launches in Corona Hard Seltzer, and was a driving force behind the company’s Focus on Female Founders program, designed to invest $100 million in female-founded or female-owned start-ups in the beverage alcohol space by 2028. In 2019, Monteiro was promoted to Executive Vice President and Chief Growth & Strategy Officer, where she has served as a member of Constellation’s Executive Management Committee.

“We must be agile to stay ahead of shifting consumer behavior,” said Monteiro. “This requires us to continue building an organization with best-in-class capabilities to anticipate, meet and engage with consumers where they’re headed, whether that’s in digital channels or by exploring disruptive brands in emerging categories. I’m excited to work with our teams to drive our big ambitions in these areas.”

ABOUT CONSTELLATION BRANDS

At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and our high-quality premium wine and spirits brands, including the Robert Mondavi Brand Family, Kim Crawford, Meiomi, The Prisoner Brand Family, SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey.

But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.

To learn more, follow us on Twitter @cbrands and visit www.cbrands.com.

MEDIA CONTACTS INVESTOR RELATIONS CONTACTS
Mike McGrew 773-251-4934 / michael.mcgrew@cbrands.com
Amy Martin 585-678-7141 / amy.martin@cbrands.com
Patty Yahn-Urlaub 585-678-7483 / patty.yahn-urlaub@cbrands.com
Marisa Pepelea 312-741-2316 / marisa.pepelea@cbrands.com

A PDF containing multimedia is available at: http://ml.globenewswire.com/Resource/Download/e5e9bea0-9b7d-49a9-a6f3-a4593e648c4f

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc7449b-ad7e-469d-852f-4344d1777c83

https://www.globenewswire.com/NewsRoom/AttachmentNg/b1177726-c3d7-4871-8e05-2e6f7dd390bc

Philips meets its ‘Healthy people, Sustainable planet’ targets and forges ahead with integrated ESG framework

February 23, 2021

  • Philips is one of the first health technology companies in the world that has become fully carbon neutral in its operations
  • New integrated Environmental, Social and Governance framework with targets and action plans builds on current success to raise the bar for the company’s ESG performance over the next five years

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it successfully met all the targets set out in its 2016 – 2020 ‘Healthy people, Sustainable planet’ program. Key achievements of the program include carbon neutrality in its operations, 100% electricity from renewable sources, over 70% of sales from Green Products and Services [1], 15% of sales coming from circular revenues, recycling 90% of its operational waste, and sending zero waste to landfill.

“I am pleased that we have delivered on all the targets set out in our Healthy people, Sustainable planet program, making Philips one of the first health technology companies in the world that has become carbon neutral in its operations,” said Frans van Houten, CEO of Royal Philips. “Our current integrated ESG framework builds on this success, and we are determined to join forces with all necessary stakeholders, public and private, to drive environmental, social and governance priorities and generate global impact. With the COVID-19 pandemic and climate change exposing the risks in terms of people’s health and access to quality healthcare, we are committed to building inclusive and resilient healthcare systems, while reducing our dependency on natural resources.”

Philips’ Environmental, Social and Governance update is an integral part of the Philips Annual Report 2020, which was published earlier today. Highlights include:

Environmental:

  • Renewable energy sources: Through consortium-led virtual Power Purchase Agreements, Philips is securing renewable electricity supply to power its European operations.
  • Circular economy: Philips plays a leading role in the Platform for Accelerating the Circular Economy (PACE), setting global Action Agendas and driving change to embed circular thinking and ways of working. As part of its commitment to the World Economic Forum (WEF) Capital Equipment pledge, Philips has delivered on its commitment to close the loop for large medical systems equipment by offering a trade-in for all deals that the company won around the globe, repurposing/recycling components and materials in a responsible way to improve more lives without further depleting the world’s natural resources.
  • Supply chain: Philips works with suppliers to further reduce their carbon emissions by supporting capability building and contributing to transparency and efficiency in the supply chain. This approach has improved the sustainability performance of suppliers that entered the program in 2019 by 36% compared to last year.

Social:

  • Lives improved: In 2020, Philips’ products and solutions improved the lives of 1.75 billion people. This figure includes 207 million people in underserved communities. To this end, Philips is also teaming up with governments, NGOs and hospitals. For example, Philips partnered with the African Union to provide medical equipment and expertise to help meet the immediate needs of medical practitioners and COVID-19 patients.
  • Supply chain: Philips’ programs have improved the lives of 302,000 workers in its supply chain in 2020.
  • Fair and inclusive workplace: Philips’ average employee engagement score for 2020 was 79%. Philips’ employee survey consistently reports that its employee engagement is on the rise and well exceeding the global high-performance norm of 71%. Moreover, gender diversity in senior leadership positions was 27% by the end of 2020, exceeding Philips’ target of 25%.

Governance:

  • Philips has a strong track record of transparency in its plans, actions and reporting. For example, all Philips’ ESG data is externally audited at the highest level. Furthermore, in addition to the company’s customary disclosures on tax contributions in its Annual Report 2020, Philips today published its first Country Activity and Tax Report 2020 detailing its tax contributions for all countries it operates in

Raising the bar
As part of its ongoing commitment to making the world healthier and more sustainable through innovation, Philips will continue to build on the success of the program with an enhanced and fully integrated approach to doing business responsibly and sustainably. As announced last September, this new framework comprises a comprehensive set of targets, commitments and action plans across all the Environmental, Social and Governance dimensions that will drive further growth while acting responsibly towards the planet and society.

Human Rights Report
Today, Philips also published its latest Human Rights Report 2020, which contains information about the company’s progress with regard to identifying and mitigating (potential) adverse human rights impacts in Philips’ own operations and its value chain. Moreover, Philips issued new policy statements on human rights, fair employment, and inclusion and diversity, covering aspects such as equal opportunity, fair and equal pay, workplace harassment/intimidation, child labor, forced labor, and working time directives.

Global recognition
Philips received further recognition for its ESG performance: top positions in the Dow Jones Sustainability Index, and Sustainalytics rankings; eight consecutive years on the CDP Climate Change A-list; greenhouse gas reduction targets approved by the Science Based Targets initiative. Philips also achieved second place in 2020 on Wall Street Journal’s 100 Most Sustainably Managed Companies in the World.

[1] Green Revenues are generated through products and solutions that offer a significant environmental improvement in one or more Green Focal Areas: Energy efficiency, Packaging, Hazardous substances, Weight, Circularity, and Lifetime reliability. Green Revenues increased to EUR 13.9 billion in 2020, or 71.0 % of sales (67.2% in 2019), reaching a record level and exceeding the 2020 target of 70%.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446
E-mail: ben.zwirs@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Philips meets its ‘Healthy people, Sustainable planet’ targets and forges ahead with integrated ESG framework

February 23, 2021

  • Philips is one of the first health technology companies in the world that has become fully carbon neutral in its operations
  • New integrated Environmental, Social and Governance framework with targets and action plans builds on current success to raise the bar for the company’s ESG performance over the next five years

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it successfully met all the targets set out in its 2016 – 2020 ‘Healthy people, Sustainable planet’ program. Key achievements of the program include carbon neutrality in its operations, 100% electricity from renewable sources, over 70% of sales from Green Products and Services [1], 15% of sales coming from circular revenues, recycling 90% of its operational waste, and sending zero waste to landfill.

“I am pleased that we have delivered on all the targets set out in our Healthy people, Sustainable planet program, making Philips one of the first health technology companies in the world that has become carbon neutral in its operations,” said Frans van Houten, CEO of Royal Philips. “Our current integrated ESG framework builds on this success, and we are determined to join forces with all necessary stakeholders, public and private, to drive environmental, social and governance priorities and generate global impact. With the COVID-19 pandemic and climate change exposing the risks in terms of people’s health and access to quality healthcare, we are committed to building inclusive and resilient healthcare systems, while reducing our dependency on natural resources.”

Philips’ Environmental, Social and Governance update is an integral part of the Philips Annual Report 2020, which was published earlier today. Highlights include:

Environmental:

  • Renewable energy sources: Through consortium-led virtual Power Purchase Agreements, Philips is securing renewable electricity supply to power its European operations.
  • Circular economy: Philips plays a leading role in the Platform for Accelerating the Circular Economy (PACE), setting global Action Agendas and driving change to embed circular thinking and ways of working. As part of its commitment to the World Economic Forum (WEF) Capital Equipment pledge, Philips has delivered on its commitment to close the loop for large medical systems equipment by offering a trade-in for all deals that the company won around the globe, repurposing/recycling components and materials in a responsible way to improve more lives without further depleting the world’s natural resources.
  • Supply chain: Philips works with suppliers to further reduce their carbon emissions by supporting capability building and contributing to transparency and efficiency in the supply chain. This approach has improved the sustainability performance of suppliers that entered the program in 2019 by 36% compared to last year.

Social:

  • Lives improved: In 2020, Philips’ products and solutions improved the lives of 1.75 billion people. This figure includes 207 million people in underserved communities. To this end, Philips is also teaming up with governments, NGOs and hospitals. For example, Philips partnered with the African Union to provide medical equipment and expertise to help meet the immediate needs of medical practitioners and COVID-19 patients.
  • Supply chain: Philips’ programs have improved the lives of 302,000 workers in its supply chain in 2020.
  • Fair and inclusive workplace: Philips’ average employee engagement score for 2020 was 79%. Philips’ employee survey consistently reports that its employee engagement is on the rise and well exceeding the global high-performance norm of 71%. Moreover, gender diversity in senior leadership positions was 27% by the end of 2020, exceeding Philips’ target of 25%.

Governance:

  • Philips has a strong track record of transparency in its plans, actions and reporting. For example, all Philips’ ESG data is externally audited at the highest level. Furthermore, in addition to the company’s customary disclosures on tax contributions in its Annual Report 2020, Philips today published its first Country Activity and Tax Report 2020 detailing its tax contributions for all countries it operates in

Raising the bar
As part of its ongoing commitment to making the world healthier and more sustainable through innovation, Philips will continue to build on the success of the program with an enhanced and fully integrated approach to doing business responsibly and sustainably. As announced last September, this new framework comprises a comprehensive set of targets, commitments and action plans across all the Environmental, Social and Governance dimensions that will drive further growth while acting responsibly towards the planet and society.

Human Rights Report
Today, Philips also published its latest Human Rights Report 2020, which contains information about the company’s progress with regard to identifying and mitigating (potential) adverse human rights impacts in Philips’ own operations and its value chain. Moreover, Philips issued new policy statements on human rights, fair employment, and inclusion and diversity, covering aspects such as equal opportunity, fair and equal pay, workplace harassment/intimidation, child labor, forced labor, and working time directives.

Global recognition
Philips received further recognition for its ESG performance: top positions in the Dow Jones Sustainability Index, and Sustainalytics rankings; eight consecutive years on the CDP Climate Change A-list; greenhouse gas reduction targets approved by the Science Based Targets initiative. Philips also achieved second place in 2020 on Wall Street Journal’s 100 Most Sustainably Managed Companies in the World.

[1] Green Revenues are generated through products and solutions that offer a significant environmental improvement in one or more Green Focal Areas: Energy efficiency, Packaging, Hazardous substances, Weight, Circularity, and Lifetime reliability. Green Revenues increased to EUR 13.9 billion in 2020, or 71.0 % of sales (67.2% in 2019), reaching a record level and exceeding the 2020 target of 70%.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446
E-mail: ben.zwirs@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Philips publishes its Annual Report 2020

February 23, 2021

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today published its Annual Report 2020.

Philips’ Annual Report 2020 will be on the agenda of the Annual General Meeting of Shareholders (AGM), to be held on May 6, 2021. The convocation notice and the agenda, including explanatory notes, for the AGM will be published in due course.

Philips filed the Annual Report 2020 with Netherlands Authority for the Financial Markets in European Single Electronic Format (ESEF) and expects to file the report on Form 20-F with the U.S. Securities and Exchange Commission later today (www.sec.gov).

The Annual Report 2020 (in ESEF and on Form 20-F) will be available to shareholders and other interested parties at www.results.philips.com. A printed copy can be obtained free of charge upon written request to the following email address: annual.report@philips.com.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

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

February 23, 2021

  • Current Chairman Jeroen van der Veer and Vice-Chairwoman Mrs. Christine Poon to retire from Philips’ Supervisory Board after their third consecutive term, effective upon closing of the 2021 Annual General Meeting of Shareholders
  • Mrs. Orit Gadiesh, Philips’ Supervisory Board member since 2014, to step down
  • Philips’ Supervisory Board appoints Feike Sijbesma as its Chairman and Paul Stoffels as its Vice-Chairman
  • Mrs. Chua Sock Koong and Mrs. Indra Nooyi to be proposed as new members of the Supervisory Board
  • Philips Chief Legal Officer Marnix van Ginneken proposed for reappointment as a member of Philips’ Board of Management

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that its Supervisory Board has appointed Feike Sijbesma as the Supervisory Board’s new Chairman, effective upon the closing of Philips’ 2021 Annual General Meeting of Shareholders (AGM) on May 6, 2021. Mr. Sijbesma (Dutch, 1959) has been a member and Vice-Chairman of Philips’ Supervisory Board since 2020, and will succeed the current Chairman Jeroen van der Veer (Dutch, 1947), who will retire. Mr. Van der Veer joined the Supervisory Board in 2009 and has served for three consecutive terms. Since 2011, he has been the Supervisory Board’s Chairman, leading the stewardship and oversight of Philips during a defining phase as the company pivoted to a focused health technology leader.

Furthermore, the Supervisory Board has appointed Paul Stoffels as its new Vice-Chairman. Mr. Stoffels (Belgian, 1962) has been a member of Philips’ Supervisory Board since 2018.

Philips has also announced that it will propose to the AGM the appointment of Mrs. Chua Sock Koong as a new member of the Supervisory Board. The appointment of Mrs. Chua (Singaporean, 1957) is recommended because of her in-depth knowledge of information technology and digitalization. She is the former CEO of Singapore Telecommunications Limited (Singtel), Asia’s leading communications technology group. During her tenure as Singtel CEO from 2007 till 2020, Mrs. Chua extended the company’s footprint to 21 countries, including Singapore, Australia, India and Indonesia, and led Singtel’s digital transformation. This included the digitalization of its core telecom business and the growth of new digital businesses. Prior to her appointment as CEO of Singtel, Mrs. Chua held various executive leadership positions, including the role of CFO.

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.”

More information about the 2021 AGM will be published in due course. Additional information about the Board of Management and the Supervisory Board can be found here.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

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