Charlotte Hanneman to succeed Abhijit Bhattacharya as Philips’ Chief Financial Officer (CFO)

Royal Philips, a global leader in health technology, has announced the proposal to appoint Charlotte Hanneman as member of the Board of Management, fulfilling the role of Chief Financial Officer (CFO), effective October 1, 2024. The proposal will be submitted to the Annual General Meeting of Shareholders (AGM), to be held on May 7, 2024.

Ms. Hanneman will join Philips as a member of Philips’ Executive Committee on June 1, 2024, to start her induction and transition into the role, succeeding current CFO Abhijit Bhattacharya on October 1, 2024. Mr. Bhattacharya has been CFO and member of Philips’ Board of Management and Executive Committee since 2015 and will retire from the company after a successful 37-year career on September 30, 2024.

Ms. Hanneman (Dutch, 1978) will join Philips with over 20 years’ experience in the MedTech and pharmaceutical industries, most recently as Controller and Head of Financial Planning & Analysis at global medical technology company Stryker. In this current role, she is responsible for financial control, enterprise financial planning and analysis, and business development finance. She is also responsible for indirect procurement, and directly responsible for the finance teams across Europe, Middle East and Africa, Canada, and Latin America.

Prior to this, she held several international finance leadership roles at Stryker, and other multinational healthcare companies, including Merck, Schering-Plough and Organon. Ms. Hanneman has extensive experience working in the US and has lived in various countries across Asia and Europe. She holds a master’s degree in economics and an executive master of finance and control from Maastricht University, the Netherlands.

Roy Jakobs, CEO of Royal Philips said: “I would like to thank Abhijit for his significant contribution to the transformation of Philips into a health technology company. His dedication and leadership have made a major impact throughout his long 37-year career in the company. In the future, I will miss him for his character and the insight he brought to the boardroom, however, he will remain our CFO until the end of September, ensuring a smooth transition. On behalf of Philips’ Executive Committee, I wish him all the best in his future endeavors.”

“This is an exciting time for Charlotte to join Philips. Her strong MedTech and pharma knowledge spanning Europe, Asia, and the US, as well as her extensive finance experience, coupled with her energy and passion for the healthcare industry, make her an ideal fit for the role.”

Charlotte Hanneman, incoming CFO of Royal Philips, added: “Philips is on an exciting journey to create value with sustainable impact. With its global reach, market leadership positions, and patient- and people-focused innovation, Philips is well positioned to help deliver real change across healthcare. I am looking forward to joining the team to drive impact and continue to deliver on the plans and commitments set for the future.”

Feike Sijbesma, Chairman of Philips’ Supervisory Board, said: “On behalf of the Supervisory Board, I would like to thank Abhijit for all he has done for Philips over a long and illustrious career with the company and wish him the very best for the future. In welcoming Charlotte, we are broadening the diversity of the Board of Management while further deepening the industry expertise of the team to help drive the plan to create value with sustainable impact.”

Abhijit Bhattacharya, CFO of Royal Philips commented: “After serving Philips and leading great teams for many years, helping to shape the future of the company, the time is right for me to retire from the company in September. I am fully focused on delivering on Philips’ plan in the next six months and ensuring a seamless handover to Charlotte.”

About Royal Philips

Royal 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 2023 sales of EUR 18.2 billion and employs approximately 69,700 employees with sales and services in more than 100 countries.