Philips shareholders approve all proposals at the AGM 2025
Philips AGM 2025
Chairman Feike Sijbesma and a member of the Board of Management Marnix van Ginneken during Philips AGM 2025
May 8, 2025
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), today announced that its shareholders approved all proposals at the Annual General Meeting of Shareholders (AGM) 2025, including:
The re-appointment of Ms Indra Nooyi and Ms Chua Sock Koong as members of the Supervisory Board.
The appointment of Mr Bob White as a new member of the Supervisory Board.
The re-appointment of Mr Marnix van Ginneken as member of the Board of Management.
The discharge of the members of the Board of Management, and of the members of the Supervisory Board.
A full overview of the resolutions taken at the AGM 2025 can be found below.
Feike Sijbesma, Chairman of Philips' Supervisory Board, said: 'On behalf of the Supervisory Board and the Board of Management, I extend our heartfelt thanks to David Pyott for his invaluable counsel over the past decade. We are also delighted to welcome Bob White to the Supervisory Board and are very pleased with the re-appointment of Indra Nooyi and Chua Sock Koong. With our highly knowledgeable and experienced members, our Supervisory Board is well-equipped to advise and support Management as they execute Philips' strategy.'
Mr Sijbesma added: 'Together with my colleagues on the Supervisory Board, we extend our congratulations to Marnix van Ginneken on his re-appointment as a member of Philips' Board of Management. With his strong leadership, profound understanding of the company, and his extensive international corporate governance experience, he is a tremendous asset to Philips.'
Roy Jakobs, CEO of Royal Philips, said: 'I am very pleased with Bob White's appointment to our Supervisory Board. He is a recognized global business leader with deep expertise in health technology. Philips has benefited greatly from the expertise and contributions of Indra Nooyi and Chua Sock Koong, and we are very happy with their re-appointment. Our CFO Charlotte Hanneman and I look forward to continued successful collaboration with Marnix van Ginneken who has been instrumental to Philips, as we strive to improve health and well-being of people through meaningful innovation.'
All resolutions taken at the AGM 2025:
Agenda item
Resolution
3
Annual Report 2024
Adoption of the financial statements 2024
Adoption of a dividend of EUR 0.85 per common share, in shares or (subject to certain conditions) in cash, against retained earnings
Positive advisory vote on the approval of the Remuneration Report 2024
Discharge of the members of the Board of Management
Discharge of the members of the Supervisory Board
4
Composition of the Board of Management
Appointment of Mr Van Ginneken as member of the Board of Management with effect from May 8, 2025
5
Composition of the Supervisory Board
Re-appointment of Ms Chua as member of the Supervisory Board with effect from May 8, 2025
Re-appointment of Ms Nooyi as member of the Supervisory Board with effect from May 8, 2025
Appointment of Mr White as member of the Supervisory Board with effect from May 8, 2025
6
Authorization of the Board of Management to issue shares or grant rights to acquire shares and restrict or exclude pre-emption rights
7
Authorization of the Board of Management to acquire shares in the company
8
Cancellation of shares
Further details about the dividend can be found via this link, and additional information on the composition of the Board of Management, the Executive Committee and the Supervisory Board can be found here. Philips' 2024 financial statements are included in its Annual Report 2024 that was published on February 21, 2025.For more information about Philips' AGM 2025, please click on this link.
For further information, please contact:
Michael FuchsPhilips Global External RelationsTel.: +31 614869261E-mail: media@philips.com
Dorin DanuPhilips Investor RelationsTel.: +31 20 59 77055E-mail: dorin.danu@philips.com
About Royal PhilipsRoyal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,200 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Attachments
Philips AGM 2025
Chairman Feike Sijbesma and a member of the Board of Management Marnix van Ginneken during Philips AGM 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Wall Street Still Loves This Stock--Even After It Crashed nearly 18% in a Day
PVH Corp (NYSE:PVH) just got hammereddown nearly 18% at 12.22pm. The selloff came despite a blockbuster year: record gross margins of 59.4%, $600 million in free cash flow, and a 10% operating margin. Non-GAAP EPS for fiscal 2024 came in at a record $11.74, up 10% from last year. The company even returned $500 million to shareholders through buybacks. On paper, these are the kinds of numbers that should get a standing ovation. Instead, investors hit the exits. So what's going on? A few storm clouds are hanging over the 2025 outlook. Management is guiding for flat to slightly higher revenue, and while EPS could rise to $12.75, the road ahead looks bumpier. Freight costs are ticking up, promotions are likely to intensify, and Chinaone of PVH's key marketsis facing a slowdown post-holiday. To make matters worse, PVH was added to China's unreliable entity list by MOFCOM, introducing a new layer of geopolitical risk. Calvin Klein also ran into product development delays, adding short-term margin pressure to the mix. And yetWall Street hasn't given up. The average price target from 13 analysts sits at $98.23, implying a potential 48.9% upside from current levels. GuruFocus places PVH's fair value at $97.10. Brokerage consensus is still Outperform. Underneath the headline drop, there are signals of strength: EBIT surged over 40% in North America, Europe's store traffic picked up in back-to-back quarters, and core product sell-through is improving. This might just be a stock investors don't like right nowbut could end up regretting not buying later. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
- Yahoo
PVH Corp (PVH) Q1 2025 Earnings Call Highlights: Navigating Growth Amidst Challenges
Revenue Growth: Up 2% on both a reported and constant currency basis. Operating Margin: 8.1% within guidance range. Earnings Per Share (EPS): $2.30, slightly ahead of guidance. Gross Margin: 58.6%, a decrease of 280 basis points compared to last year. Inventory Increase: Up 19% compared to Q1 last year. Direct-to-Consumer Revenue: Down 3% both reported and in constant currency. Wholesale Revenue: Up 7% on a constant currency basis, 6% on a reported basis. EMEA Revenue: Up 4% in constant currency. Americas Revenue: Up 7%, driven by high-teens growth in wholesale. Asia Pacific Revenue: Down 11% on a constant currency basis. Licensing Revenue: Down 2% versus last year. SG&A as a Percent of Revenue: 50.5%, a 90 basis point improvement versus last year. Shareholder Returns: Over $550 million returned through share repurchases. Warning! GuruFocus has detected 7 Warning Signs with CIEN. Release Date: June 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. PVH Corp (NYSE:PVH) reported a 2% revenue growth, exceeding their guidance, driven by disciplined execution of the PVH+ Plan. The company delivered stronger than expected non-GAAP EPS, also above their guidance. Calvin Klein's innovative product franchise, Icon Cotton Stretch underwear, drove a 25% increase in sales globally. Tommy Hilfiger's strategic product innovations and seasonal collections have led to stronger performance, particularly in Europe. PVH Corp (NYSE:PVH) returned over $550 million to shareholders through share repurchases during the quarter. The company is facing a challenging macroeconomic environment, with decreased consumer sentiment and traffic trends, particularly in North America and China. PVH Corp (NYSE:PVH) experienced operational challenges with Calvin Klein's global product creation, impacting margins. The company is dealing with a more promotional environment, leading to increased discounting and impacting gross margins. Tariffs are expected to have a $65 million unmitigated impact on EBIT for the full year. Inventory levels increased by 19% due to lower than expected demand for basics and essentials. Q: Stefan, you mentioned decreased traffic and increased promotional levels. What gives you confidence that Calvin Klein and Tommy Hilfiger still have good momentum with consumers? A: Stefan Larsson, CEO: Despite the challenging macro environment, where we lean into consumer love for Calvin Klein and Tommy Hilfiger, we see strong results. For example, our new product innovation in Calvin Klein men's underwear drove 25% growth in a major franchise. Similarly, fashion denim grew by 14%. We plan to expand these successful strategies across more of our business. Q: Can you provide an update on the cost-out efforts and whether they are affecting operational stability, particularly for Calvin Klein? A: Stefan Larsson, CEO: The operational challenges at Calvin Klein were due to the integration of global product capabilities, which is crucial for future growth. We are seeing improvements, with significant progress expected by Spring 2026. Zachary Coughlin, CFO, added that cost-saving measures are on track, with 200 basis points of SG&A leverage expected by Q4 2025. Q: How are you addressing the impact of tariffs, and what are your strategies for mitigating these effects? A: Zachary Coughlin, CFO: We have identified $65 million in unmitigated tariff effects. Our mitigation strategies include optimizing sourcing and production costs, strategic discount reductions, and targeted pricing actions where we have pricing power. Our globally diversified revenue base and strong supply chain relationships are key advantages. Q: With the expected promotional environment, how do you plan to make the brand more resilient from a pricing perspective? A: Stefan Larsson, CEO: We are focusing on scaling the impact of PVH+ execution by enhancing product innovation in key categories and increasing marketing investments to drive traffic. For example, Tommy Hilfiger's partnership with Formula One is a strategic move to connect the brand with a growing sport and enhance its lifestyle appeal. Q: Can you elaborate on the gross margin outlook for the second quarter and the back half of the year? A: Zachary Coughlin, CFO: For the full year, gross margins are expected to decrease by approximately 250 basis points, with 50 basis points due to tariffs and 100 basis points from increased promotional activity. We anticipate sequential improvement in Calvin Klein's operational issues and expect to mitigate the tariff impact over time. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
25 minutes ago
- Yahoo
BofA Maintains Hold Rating on PVH Corp. (PVH), Sets $86 PT
In a report released on June 4, BofA analyst Christopher Nardone maintained a Hold rating on PVH Corp. (NYSE:PVH) with a price target of $86.00. The rating update followed the company's release of its fiscal Q1 2025 results on the same day, with revenue growing 2% to $1.984 billion compared to the same period last year. The analyst based the rating on PVH Corp.'s (NYSE:PVH) future outlook and recent financial performance, stating that it reported a minute fall in sales. This was, however, offset by higher SG&A expenses and lower margins, which resulted in a modest EPS beat. The company reported a non-GAAP EPS of $2.30 in fiscal Q1 2025, which surpassed guidance of $2.10 to $2.25. A customer trying on a sports jacket in-store, showcasing the company's sportswear range. Nardone highlighted that while regions such as America and EMEA experienced sales growth, the company's overall performance was negatively impacted by challenges in APAC and licensing. Management decided to lower the EPS guidance for fiscal 2025 to the $10.75 - $11.00 range on a non-GAAP basis compared to a range of $12.40 - $12.75 previously. The analyst reasoned that this drop reflects margin pressure concerns, somewhat influenced by tariffs. PVH Corp. (NYSE:PVH) also reduced EPS guidance for fiscal Q2 2025 to the $1.85 - $2.00 range on a non-GAAP basis. However, Nardone stated that the company has a history of exceeding conservative forecasts. According to the analyst, the valuation appears to mitigate short-term margin challenges through positive sales trends, which supports the Hold rating as the market assesses PVH Corp.'s (NYSE:PVH) potential to drive sales and manage costs. PVH Corp. (NYSE:PVH) is a luxury fashion company that operates Tommy Hilfiger and Calvin Klein brands. While we acknowledge the potential of PVH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
