Frans van Houten starts as chief executive officer of Royal Philips Electronics NV today with the challenge of turning around the 3 billion-euro ($4.2 billion) television business, a task that eluded his predecessor.
Royal Philips Electronics NV predicted a first-quarter deficit from its television division close to the loss the unit had in all of 2010, raising pressure on the incoming chief executive officer to fix the business.
Gerard Kleisterlee , chief executive officer of Royal Philips Electronics NV, is the frontrunner among candidates being considered for the post of chairman at Vodafone Group Plc, the Financial Times reported, citing people familiar with the situation. Vodafone has drawn up a shortlist of three people to succeed John Bond , the FT said.
Royal Philips Electronics NV , the world’s biggest lighting company, said Chief Financial Officer Pierre-Jean Sivignon will step down in April, when new Chief Executive Officer Frans van Houten takes the helm.
Royal Philips Electronics NV , the world’s biggest lighting company, posted a better-than-estimated increase in third-quarter profit, while saying it’s “cautious” on sales for the final three months of the year.