Philips Healthcare parent Royal Philips announced that it plans to reappoint Frans van Houten as president/CEO and member of the board of management at its annual meeting in May 2019.
Van Houten became president/CEO and member of the board of management in 2011. He led the transformation and revitalization of Philips to become a focused health technology company through productivity programs, targeted divestments, business development, and acquisitions.
The company also said it would reappoint Abhijit Bhattacharya as member of the board of management fulfilling the role of chief financial officer (CFO).
Bhattacharya became CFO and member of the board of management in 2015. In this role, he led the multiyear productivity programs and improved Philips' working capital, balance sheet efficiency, and cash conversion to enhance the company's growth and profitability profile.
