Curious branding discussion. At first I thought they were changing from Philips into Royal Philips. But the official name is already Royal Philips Electronics. Now that Philips has sold off its consumer electronics companies, it's more like Royal Philips Health. So they're planning to shorten the name rather than lengthen it. Surprised they don't use the opportunity to fix the company tag line. Sense and simplicity has never worked. Why not just "simplicity"?
I have also been looking at how companies tell their stories to shareholders and interested parties. I confess I don't understand Philips marketing/PR department when it comes to their annual report. The online version contains several rather uncomfortable videos of CEO Frans van Houten trying to act like a newsreader. He's clearly not a natural presenter. No media outlet will use these statements because they stand out as being so rehearsed (although some might play it if Philips paid them).
Golden rule: Never look at the camera unless you're doing wild-life documentaries. A fireside chat format would be far more effective and authentic.
Amsterdam, the Netherlands – Royal Philips Electronics (NYSE: PHG, AEX: PHIA) today announced that it will propose to the Annual General Meeting of Shareholders (AGM), which will be held on May 3, 2013, to amend the articles of association of the company to change the name of the company to Koninklijke Philips N.V. (Royal Philips).
“Philips is a diversified technology company focused on delivering meaningful innovation in healthcare, energy-efficient lighting and consumer health and well-being,” said Philips Chief Executive Officer Frans van Houten. “Our innovative products, systems and services help improve the lives of billions of people. We believe having Royal Philips as our new company name, will position us well in our endeavor to make the world healthier and more sustainable.”
Furthermore, Philips will propose to the Annual General Meeting of Shareholders to re-appoint Ms. Christine Poon, Mr. James Schiro and Mr. Jeroen van der Veer as members of the Supervisory Board. Philips will also propose to amend the Long-Term Incentive Plan for its executives.