Philips 2014 Annual Report Download - page 76

Management 8
76 Annual Report 2014
8Management
Koninklijke Philips N.V. is managed by an Executive
Committee which comprises the members of the Board
of Management and certain key ocers from functions,
businesses and markets.
The Executive Committee operates under the
chairmanship of the Chief Executive Ocer and shares
responsibility for the deployment of Philips’ strategy
and policies, and the achievement of its objectives and
results.
Under Dutch Law, the Board of Management is
accountable for the actions and decisions of the
Executive Committee and has ultimate responsibility
for the management and external reporting of
Koninklijke Philips N.V. and is answerable to
shareholders at the Annual General Meeting of
Shareholders. Pursuant to the two-tier corporate
structure, the Board of Management is accountable for
its performance to a separate and independent
Supervisory Board.
The Rules of Procedure of the Board of Management
and Executive Committee are published on the
Company’s website (www.philips.com/investor).
Corporate governance
A full description of the Company’s corporate
governance structure is published in chapter 11,
Corporate governance, of this Annual Report.
Frans van Houten
Born 1960, Dutch
President/Chief Executive Officer (CEO)
Chairman of the Board of Management since April 2011
Group responsibilities: Chairman of the Executive Committee,
Sector Healthcare, Internal Audit, Information Technology,
Supply Management, Marketing & Communication, Accelerate! -
Overall transformation, End2End
Jim Andrew
Born 1962, American
Executive Vice President &
Chief Strategy and Innovation Officer
Group responsibilities: Strategy, Innovation, Design,
Sustainability, Accelerate! - Resource to win
Marnix van Ginneken
Born 1973, Dutch/American
Executive Vice President & Chief Legal Officer
Corporate responsibilities: Legal and General Secretary