Deliver Your News to the World

Philips appoints new CEO of Medical Systems division


WEBWIRE

Tuesday, October 17, 2006 - Amsterdam, The Netherlands - Royal Philips Electronics (NYSE: PHG, AEX: PHI) today announced the appointment of Mr. Stephen H. (Steve) Rusckowski as CEO of Philips Medical Systems, effective November 1, 2006. Mr. Rusckowski will succeed Mr. Jouko Karvinen, who has been named the next CEO of Stora Enso Oyj, the global paper, packaging and forest products company. Mr. Karvinen will transfer his responsibilities as CEO of Philips Medical Systems to Mr. Rusckowski as of the same date. On December 1, 2006, Mr. Karvinen will relinquish his position as member of the Board of Management of Royal Philips Electronics and leave the company. Mr. Karvinen was appointed CEO of Philips Medical Systems on October 1, 2002, and became a member of the Board of Management on April 1, 2006.

Steve Rusckowski (b. 1957, American) currently has global responsibility for Imaging Systems, one of the business groups of the Medical Systems division. In addition, he plays a lead role in designing strategies to expand Philips’ presence in the personal health and well-being domain. Since 1984, Mr. Rusckowski has held numerous management positions with the healthcare division of Hewlett-Packard/Agilent Technologies. He was the General Manager of Agilent’s Healthcare Solutions Group when Philips acquired this business in 2001.

As CEO of Philips Medical Systems, Mr. Rusckowski will report to Mr. Gerard Kleisterlee, President & CEO of Royal Philips Electronics. From November 1, 2006, Mr. Rusckowski will be a member of Philips’ Group Management Committee. The company’s Supervisory Board will propose to the next regular General Meeting of Shareholders on March 29, 2007 to appoint Mr. Rusckowski as a member of the Board of Management as of April 1, 2007.

In commenting on this planned top management change, Mr. Kleisterlee said: “We’re pleased to welcome Steve Rusckowski to the Philips top team. Steve has a long track record running successful growth businesses in healthcare, both at Philips and before. We’re confident he’s the right leader for the next phase of growth and expansion at Medical Systems. We thank Jouko for his excellent contributions to building a strong platform in the medical business for Philips, and wish him all the best as CEO of Stora Enso corporation.”

Stephen H. Rusckowski

Mr. Steve Rusckowski is currently CEO of Imaging Systems, one of the business groups at Philips Medical Systems. Mr. Rusckowski has held numerous management positions with the healthcare division of Hewlett-Packard/Agilent Technologies. He was the General Manager of Agilent’s Healthcare Solutions Group when Philips acquired this business in 2001.

Mr. Rusckowski was born in 1957 in the United States. He is married and has two children.

Jouko Karvinen

Chief Executive Officer Philips Medical Systems

* Click here for Mr. Karvinen’s CV: www.philips.com/about/company/management/boardofmanagement/section-14663/index.html


About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 126,000 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.

Forward-looking statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.



WebWireID22201





This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.