The Supervisory Board of Royal Philips announced the proposed re-appointment of Roy Jakobs as President and CEO. The proposal comes as Philips enters a “new phase of profitable growth,” following a rigorous multi-year turnaround led by Jakobs since his initial appointment in October 2022.
The board’s decision will be formally submitted for shareholder approval at the company’s Annual General Meeting (AGM) on May 8, 2026.
The Leadership Case: Restoring Resilience
The Supervisory Board highlighted Jakobs’ success in stabilizing the company during one of its most turbulent periods, specifically citing his management of the global Respironics recall and broader supply chain disruptions.
Productivity Gains: Under Jakobs, Philips achieved €2.5 billion in productivity savings through a “simpler, leaner, and more agile” organizational structure.
Financial Recovery: The company reported a significant step-up in sales growth and margin expansion in 2025, with positive cash generation leading to a robust balance sheet.
Cultural Shift: Jakobs is credited with renewing the senior leadership team and fostering an “impact-driven culture” focused on patient safety and quality.
2026–2028 Strategic Outlook
Coinciding with the re-appointment proposal, Jakobs presented Philips’ updated long-term plan at the company’s Capital Markets Day.
| Metric / Target | 2026–2028 Goal |
| Comparable Sales Growth | 3% to 4.5% (Mid-single-digit CAGR) |
| Adjusted EBITA Margin | Mid-teens by 2028 |
| Free Cash Flow | €1.4 billion to €1.6 billion annually |
| Productivity Savings | €1.5 billion in additional savings (2026–2028) |
