Philips to nominate Frans van Houten as its next President and CEO, succeeding Gerard Kleisterlee in April 2011

Amsterdam, The Netherlands - Royal Philips Electronics (NYSE:PHG, AEX: PHI) today announced it will nominate Frans van Houten as its next President and Chief Executive Officer, effective April 1, 2011, as successor to Gerard Kleisterlee who will retire from Philips as per the same date.



Mr. van Houten was a member of Philips’ Board of Management until September 2006 when he led the successful spin out of Philips Semiconductors and the creation of NXP Semiconductors as an independent global company. He will re-join Philips on October 1, 2010 and will assume the position of Chief Operating Officer as of January 1, 2011, working closely with Mr. Kleisterlee to ensure a smooth transition. It is Philips’ intention to propose the appointment of Mr. van Houten as President and CEO of Philips to its Annual General Meeting of Shareholders on March 24, 2011.



“With hands-on experience in marketing and sales and deep understanding of both professional systems and solutions as well as consumer products, and having lived and worked in Europe, the US and Asia Frans van Houten is the right leader in the world of today and tomorrow to continue Philips’ strategy to be a leader in the domain of health and well-being,” Jan-Michiel Hessels, Chairman of Philips’ Supervisory Board said.



“I am happy to see Frans return to our company,” said Mr. Kleisterlee, “Frans was a strong member of my team and a strong contributor in setting the direction of the company. I regretted to see him leave with the Semiconductor spin-out. Under his leadership Philips’ future will be in very good hands.”



Mr. van Houten (Dutch, 1960) holds a Masters degree in Economics and Business Management from the Erasmus University in Rotterdam, The Netherlands. He started his career with the company in 1986 in marketing and sales at Philips Data Systems and held several leadership positions within the company. He became CEO of Airvision, an in-flight entertainment startup in the United States in 1992, and was appointed vice president international sales and operations of Philips Kommunikations Industrie in Germany in 1993. In 1996 Mr. van Houten joined Philips’ Consumer Electronics division for which he led the region Asia Pacific, Middle East and Africa, based in Singapore.



In 2002, he became co-CEO of the Consumer Electronics division and was appointed member of Philips’ Group Management Committee in 2003. In 2004, Mr. van Houten was appointed CEO of Philips Semiconductors and in 2006 joined Philips’ Board of Management until the spin out and creation of NXP Semiconductors in September of that year. Mr. van Houten is currently leading the project to separate ING Group’s banking and insurance operations as an independent advisor to ING’s management board.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 116,000 employees in more than 60 countries worldwide. With sales of EUR 23 billion in 2009, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.