The Telegraph
Since 1st March, 1999
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Philips mission to take stock of local operations

New Delhi, Sept. 1: The board of management of Royal Philips Electronics, the Dutch parent of Philips India, today began a six-day tour of its Indian operations that ends on Saturday.

The board of management — which is meeting in India for the first time in 73 years since Philips began its operations in India — is led by Gerard Kleisterlee, president and chief executive officer.

The other board members are Jan Hommen, executive vice president and chief financial officer, Gottfried Dutine, executive vice-president and CEO, consumer electronics, and Ad Huijser, executive vice-president, chief technology officer and CEO, research.

The team will be accompanied by Jan Oosterveld, senior vice-president and CEO of Asian operations, and Arie Westerlaken, senior vice president and chief legal officer. Both Oosterveld and Westerlaken are also members of the group management committee.

“This is the first time in many years that the board of management is visiting a country together and that country is India,” said Philips India CEO K. Ramachandran. “The visit is an acknowledgement of India’s growing importance as a business destination.”

The board of management will visit Bangalore, Mumbai and Delhi. Kleisterlee will also deliver a lecture to about 100 CEOs in Mumbai.

Philips India clocked a turnover of over Rs 1,600 crore in 2002 and employs 3,100 employees at its six factories and several sales offices across the country.

PTI adds from Amsterdam: Having restructured the Indian operations and launched a process of converting Philips India into a wholly-owned subsidiary, Royal Dutch Philips now plans to make fresh investments there.

Acknowledging the fact that the Asia-Pacific market in general and the Indian market in particular were emerging as important growth markets for Philips, Kleisterlee said, “We have to be more daring in terms of investment in India now that the restructuring is over.”

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