Philips announced on Tuesday that it intends to propose to its shareholders the reappointment of Feike Sijbesma as Chairman of its Supervisory Board.

The 65-year-old Dutch businessman joined the healthcare technology specialist's Supervisory Board in 2020 and will take over as Chairman in May 2021.

He was previously CEO of specialty chemicals manufacturer DSM.

The healthcare equipment supplier also plans to propose the reappointment of Peter Löscher, the former head of Siemens, to its board at its next general meeting, scheduled for May.

Following the acquisition of a 15% stake announced by Exor last August, the group also intends to propose the appointment of Benoît Ribadeau-Dumas as representative of the Agnelli family's financial holding company.

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