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Philips to move away from pure consumer electronics

December 13th, 2007 · No Comments

As part of its aim to reposition itself as a Lifestyle rather than consumer electronics brand, Philips has announced that it will merge its domestic appliances and consumer electronics divisions from January 1. The new group is to be called Philips Consumer Lifestyle and will be headed up by Bret Furio, who moves across from his role as senior vice-president and general manager for Philips in North America.
The company says the move, part of its Vision 2010 strategy, will save it upwards of 200 million euro by 2010. Current Consumer Electronics boss Rudy Provoost moves across to become chief executive of the brand’s Lighting operation in April.

Tags: Corporate · Trade

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