Philips taps Stryker controller as next CFO

Philips(NYSE: PHG)+ announced today that it proposes to appoint Charlotte Hanneman as a member of its […]

Philips(NYSE: PHG)+ announced today that it proposes to appoint Charlotte Hanneman as a member of its management board as chief financial officer (CFO).

The Dutch medtech giant proposed to make the appointment effective on Oct. 1, 2024. It must submit its proposal to the annual general meeting of shareholders scheduled for May 7, 2024.

Philips expects to have Hanneman join as a member of its executive committee on June 1, 2024. This begins her induction and transition into the role as she succeeds current CFO Abhijit Bhattacharya on Oct. 1, following his retirement.

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 U.S., 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.”

More about the outgoing and incoming CFOs at Philips

Hanneman brings more than 20 years of experience in medtech and pharmaceuticals. She currently serves as controller and head of financial planning and analysis at orthopedic giant Stryker. In this role, she holds responsibility for financial control, enterprise financial planning and analysis and business development finance. She also has responsibilities for indirect procurement. Additionally, she holds direct responsibilities for finance teams across Europe, the Middle East and Africa, Canada and Latin America.

Prior to her current post at Stryker, she held a number of international finance leadership roles across the company. She’s also worked at multinational healthcare companies such as Merck, Schering-Plough and Organon.

“Philips is on an exciting journey to create value with sustainable impact,” Hanneman said. “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.”

Bhattacharya became CFO and a member of Philips’ board of management and executive committee in 2015. He plans to retire after a 37-year career on Sept. 30, 2024.

“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,” Bhattacharya said. “I am fully focused on delivering on Philips’ plan in the next six months and ensuring a seamless handover to Charlotte.”

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