Royal Philips proposes board members

AMSTERDAM – Royal Philips has proposed re-appointing Chairman Feike Sijbesma and Peter Löscher as members of the supervisory board and to appoint Benoît Ribadeau-Dumas as new member of the supervisory board to the Annual General Meeting of Shareholders (AGM), which will be held May 7, 2024. Sijbesma has been a member of the supervisory board since 2020 and chairman of the supervisory board since May 2021. He is also the chairman of the corporate governance and nomination & selection committee, and member of the remuneration committee. Löscher has been a member of the supervisory board since 2020. In the past four years, he has been a member of the audit committee and the quality & regulatory committee. In August, Philips and Exor N.V. entered into a relationship agreement, as a result of which Exor bought a 15% shareholding in the company to support Philips’ plan to create value with sustainable impact. The relationship agreement includes Exor’s commitment to be a long-term shareholder and its right to propose one member to the supervisory board. Ribadeau-Dumas has been managing director at Exor since 2022. “We look forward to have Mr. Ribadeau-Dumas join Philips’ Supervisory Board,” said Feike Sijbesma, chairman of the supervisory board of Royal Philips. “Benoît is a recognized business leader. His extensive track record across multiple, high-tech industries, and his current focus within Exor on healthcare will bring valued contributions to the Supervisory Board and further support Philips’ value creation strategy and purpose to improve the health and well-being of people.”