Philips CFO elaborates on Philips’ progress in building the leading Health and Well-being brand at Exane BNP Seminar in Paris
Today, Pierre-Jean Sivignon, Chief Financial Officer of Royal Philips Electronics (NYSE: PHG, AEX: PHI), will give a presentation at the 10th Exane BNP Paribas European Seminar in Paris, France, in which he will further elaborate on how Philips is transforming into a leading global brand in Health and Well-being.
In his presentation, Mr. Sivignon will discuss how Philips’ focus on Health and Well-being is perfectly aligned with important demographic and economic trends, while also tapping into the people’s increasing demand for advanced but easy-to-use products and solutions that improve the quality of their lives. He will show how Philips has become a much simpler and more focused company dedicated to leveraging its deep consumer insight, technological prowess and innovative strength to deliver uniquely differentiating propositions to businesses and consumers under its strong brand name. Mr. Sivignon will confirm the financial guidance issued by Philips as part of the company’s Vision 2010 strategic plan, and will elaborate on the drivers behind the profit improvement Philips expects to realize as part of the plan.
He will also state that, in line with financial market conditions in Taiwan, Philips has decided, with acknowledgement from Taiwan Semiconductor Manufacturing Company Ltd. (TAIEX: 2330, NYSE: TSM), to accelerate the last step of its previously announced, multi-phased plan to exit from its remaining TSMC shareholding. Mr. Sivignon will also mention that Philips is ahead-of-plan in its efforts to further optimize its television global supply base and as a consequence will now book approximately half of the previously-announced EUR 125 million in charges related to these efforts in the second quarter of 2008.
The presentation starts at 9.45 AM Central European Time (CET). While there will not be a webcast of this presentation available, the slides that will be used during this presentation are available here.
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