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Philips Announces CEO Succession In Midst Of Massive Recall

 
• By Marion Webb

Philips CEO Frans van Houten will leave the company in October amid a massive recall of ventilators and related products. Roy Jakobs will succeed van Houten as CEO and president effective 15 October, Philips said.

Royal Philips announced on 16 August it will part ways with long-time CEO Frans van Houten and named Roy Jakobs as the successor.

“Roy Jakobs brings a strong international, operational and transformational track record, as well as a deep understanding of Philips, which is critical at this important juncture in the company’s growth...

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