Results of Philips’ 2023 Annual General Meeting of Shareholders Leave a comment
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) announced that today’s Annual General Meeting of Shareholders (2023 AGM) has reappointed Abhijit Bhattacharya for a two year’s term as member of the Board of Management fulfilling the role of CFO, and reappointed Liz Doherty and David Pyott as members of the Supervisory Board. With these reappointments, the composition of the Supervisory Board committees remains unchanged.
Other voting items, such the company’s proposed dividend of EUR 0.85 per share over 2022, [1] the proposal to reappoint EY as the company’s external auditor for a term of one year starting January 1, 2024, and the proposal to appoint PricewaterhouseCoopers as the company’s new external auditor for a term of four years starting January 1, 2025, as well as a number of recurring items, including the proposal to adopt the company’s financial statements, [2] were also approved. Additionally, the AGM approved the advisory voting item on the 2022 Remuneration Report.
Shareholders voted against the discharge of the collective members of the Board of Management. This follows the voting guidance from certain proxy advisors to signal discontent in respect of one former member of the Board of Management.
“Following the recent changes made in the Executive Committee, I am pleased that Abhijit is adding a two-year’s term to his tenure as CFO, thereby ensuring continuity and enabling a smooth succession process in parallel,” said Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips. “I am also pleased that Liz and David will continue to serve as members of the Supervisory Board and support Philips with their much-valued expertise and counsel.”
