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Koninklijke Philips' CEO Discusses Q1 2012 Results - Earnings Call Transcript

In the post-Summit survey which we typically do, 99% of the respondents confirm that they have clarity on what they need to do to accelerate performance of their respective businesses. In order to check that the Accelerate! program is in fact cascading down the organization, we also run surveys among 4,000 employees every quarter and the scores indicate that good progress is being made. Details related to this progress are disclosed in the Q1 information deck. At the same time, I want to emphasize that Accelerate! is a multiyear program and much remains to be done to unlock our full potential.

Let’s now discuss the changes in the Executive Committee of Philips. As we previously announced in March, we appointed Eric Rondolat as Chief Executive Officer of Lighting and a Member of the Executive Committee of Philips. Eric has an impressive international career, covering both mature and growth geographies. Most recently, Asia-Pacific and based in China. Eric brings a wealth of experience from the energy management solutions industry. We are confident that he will be able to lead Philips through the industry transformation and emerges the winner in energy efficient LED-based lighting solutions. I am also pleased that in Deborah DiSanzo, we have a worthy successor to Steve Rusckowski. Actually, I’d like to reiterate that I wish Steve well in his future endeavors and I’m thankful to him. Deborah will takeover as the new CEO of Healthcare and also join the Executive Committee of Philips. With Deborah, we have found a strong leader for Healthcare within our own organization. She has a proven track record in the Healthcare industry and has grown the Patient Care & Clinical Informatics, the PCCI business, to become the global market leader in patient monitoring. I am sure that she will be a catalyst in accelerating our Healthcare business.

Read the rest of this transcript for free on seekingalpha.com

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