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Philips Names Feike Sijbesma Chairman, Paul Stoffels Vice-Chairman, Effective FY21 AGM

Dutch consumer electronics giant Philips Electronics NV (PHGFF.PK,PHG) Tuesday announced that its Supervisory Board has appointed Feike Sijbesma as the new Chairman, effective upon the closing of 2021 Annual General Meeting of Shareholders on May 6.

Sijbesma has been a member and Vice-Chairman of Philips' Supervisory Board since 2020, and will succeed the current Chairman Jeroen van der Veer, who will retire.

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.

Further, the Board has appointed Paul Stoffels as its new Vice-Chairman, succeeding Christine Poon. He has been a member of Philips' Supervisory Board since 2018.

The current Chairman van der Veer and Vice-Chairwoman Poon will retire from Philips' Supervisory Board after their third consecutive term, effective upon closing of the 2021 AGM.

Philips will propose to the AGM the appointment of Chua Sock Koong and Indra Nooyi as new members of the Supervisory Board.

The company also proposed reappointment of Marnix van Ginneken, currently Chief Legal Officer, as member of its Board of Management.

Orit Gadiesh, Philips' Supervisory Board member since 2014, will step down.

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