Philips has announced that Roy Jakobs will be succeeding Frans van Houten as president and CEO of the company, effective October 15.
With the end of his third term looming as the head of Philips, the company's supervisory board and van Houten agreed that it was time for a leadership change. The board has unanimously proposed to its general meeting of shareholders that Jakobs take the position.
Jakobs is expected to be appointed at the board's meeting on September 30. Van Houten will support the transition until April 30, 2023.
Once appointed, Jakobs' priorities will include completing the Respironics sleep and respiratory care products field action, in consultation with other relevant authorities. The Respironics devices were recalled due to potential health risks related to the possible emission of particulates from degraded polyester-based polyurethane sound abatement foam and certain volatile organic compounds. In January, the company announced that the devices did not cause long-term health consequences.