Philips proposes to re-appoint CEO Roy Jakobs
Rhea-AI Summary
Royal Philips (NYSE: PHG) proposed re-appointment of Roy Jakobs as President & CEO and Board of Management member, to be voted at the AGM on May 8, 2026. The Supervisory Board cited progress since 2022, EUR 2.5 billion productivity savings, restored growth, improved margins, positive cash generation and a stronger balance sheet.
Jakobs will present Philips’ plan to drive profitable growth at the company’s Capital Markets Day later today.
Positive
- EUR 2.5 billion productivity savings achieved
- Company growth restored with materially increased margins
- Positive cash generation leading to a robust balance sheet
- Senior leadership team renewed, improving governance and execution
Negative
- Ongoing remediation related to the Respironics recall remains a disclosed operational focus
Market Reaction
Following this news, PHG has gained 8.71%, reflecting a notable positive market reaction. Our momentum scanner has triggered 20 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $32.20. This price movement has added approximately $2.26B to the company's valuation.
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February 10, 2026
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that Roy Jakobs is proposed to be re-appointed as its President/Chief Executive Officer and member of the Board of Management.
The decision to propose the re-appointment of Roy Jakobs reflects the Supervisory Board’s recognition of the progress made since 2022 and its confidence in his leadership as Philips enters the next phase of driving profitable growth. The proposal will be submitted for approval at the upcoming Annual General Meeting of Shareholders (AGM), to be held on May 8, 2026.
“Roy Jakobs has demonstrated clear leadership, strong execution and a relentless focus on strengthening Philips amid an uncertain macro environment,” said Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips.
“Roy has built a strong foundation, enhanced financial resilience and created an impact-driven culture with a highly engaged team focused on delivering better care for more people through meaningful innovation. Since his start, significant progress has been made in addressing the Respironics recall and continuing to improve Philips’ culture of patient safety and quality. Supply chain operations are resilient and adaptive as evidenced by the company’s management of tariffs. The organization is simpler, leaner and more agile with EUR 2.5 billion productivity savings achieved. The senior leadership team is renewed, and the culture focused on performance, growth, execution and innovation. Company growth is restored, margins materially increased and positive cash generation resulted in a robust balance sheet. The Supervisory Board is confident that Roy is the right leader to continue guiding Philips with ongoing focus and accountability to create long-term sustainable value for all stakeholders.”
Later today, Roy Jakobs will present Philips’ plan to drive profitable growth to deliver sustainable value at the company’s Capital Markets Day.
More information about Philips’ 2026 AGM will be published in due course. Additional information on Philips’ Board of Management and Executive Committee can be found here.
For further information, please contact:
Michael Fuchs
Philips Global External Relations
Tel.: +31 614 869 261
E-mail: michael.fuchs@philips.com
Dorin Danu
Philips Investor Relations
Tel.: +31 205 977 055
E-mail: dorin.danu@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 through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.
Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,000 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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