Philips 2004 Annual Report Download - page 12

And to sustain growth in the longer term we will continue to
invest in world-class innovation and leverage our strong
intellectual property position. These steps should help to make
Philips a more predictable, higher-margin and more
cash-generative company.
We will also work hard to retain our No.1 ranking in the Dow
Jones Sustainability Index, which we are now enjoying for the
second consecutive year.
Management agenda for 2005
What are our priorities for 2005?
GTo grow Healthcare as part of our portfolio
GTo continue the transformation of Philips into a market-driven
organization
GTo continue the focus on innovation across the Group
GTo reduce earnings volatility of our cyclical businesses
GTo focus on further simplifying Philips.
Staying the course
On behalf of my colleagues on the Board of Management, I would
like to express my thanks to you, our shareholders, for your
continued support. I also wish to thank our customers for their
loyalty and all Philips employees for their hard work during the
year.
On a personal note I would like to thank Jan Hommen, who will be
retiring from the Company at the end of April. In his role as CFO
and Vice-Chairman of the Board of Management, Jan has been
invaluable in steering the Company through difficult times, and in
building a culture of total financial transparency and strong
performance orientation. We also have to say goodbye to Lo van
Wachem, the Chairman of our Supervisory Board, whose
stewardship and wisdom we always have valued. I wish them both
all the best.
The challenge facing us all now is to further realign our Company
to deliver on our new brand promise in each and every aspect of
what we do and make. With rigorous and consistent execution I
am convinced we can take that decisive next step on our journey
toward sustained profitable growth.
Gerard Kleisterlee,
President
11Philips Annual Report 2004
“These steps should help to make Philips a more
predictable, higher-margin and more cash-generative
company.”