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December 22, 2017

Philips: The Transformation Journey to Success

Caroline Clarke, Jan Kimpen, Sean Carney, and several other Philips’ executives share their experiences of turning around Philips’ fortunes, from ailing consumer electronics giant in the mid-nineties to global leader in health technology in this documentary about coming back from the brink.

 

Philips’ Chief Design Officer, Sean Carney recounts Philips’ early legacy for innovative products, “Philips…was always known for producing a lot of forward-looking concepts, visions of the future”. He recalls the tough days of the mid-nineties when an over-diversification, a lack of strategic focus and slow response to competition had brought the company to the brink of a meltdown. 

 

In 2011, things began to change at Philips under the new leadership of chief executive Frans van Houten who, with his visionary focus, restructured the business to focus on healthcare. Chief Medical Officer Jan Kimpen recounts, “I think what [Frans] did very well was to read the outside world, to read the transformation that was going on in healthcare; and he decided to change the company into a pure technology company”.

 

Indeed, Philips’ spirit of innovation and entrepreneurship that had brought it much early success is still its hallmark today. According to Diederik Zeven, who leads Philips’ Heath Systems business across ASEAN Pacific: “Everything we do is with that specific goal in mind – how do we touch, through our innovations, people’s lives … and deliver real contribution to the sustainability of society.” 

 

Particularly in ASEAN Pacific, the region’s unique dynamics presents Philips with the opportunity to bring care to people and empower them to look after their own health, says Philips ASEAN Pacific CEO, Caroline Clarke. With initiatives such as the telehealth monitoring program in Singapore and Australia and the Mobile Obstetrics Monitoring project in rural regions of Indonesia, Philips’ transition to the healthcare space has not only rejuvenated the company but is now impacting the societies throughout the world.

Watch the video to find out more: https://www.channelnewsasia.com/news/video-on-demand/inside-the-storm/philips-9467334

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2016 sales of EUR 17.4 billion and employs approximately 70,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Albertine Schor

Albertine Schor

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Tel: +61 (02) 9947 0040

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