Kleisterlee Named Philips' President

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Amsterdam, The Netherlands - Gerard Kleisterlee will take over as president of Philips Electronics next April when Cor Boonstra steps down after spending four years in the position.

Kleisterlee has held a host of titles at Philips, including member of the board and president/CEO of Philips Components and executive vice presidents of Royal Philips Electronics, and will become chief operating on Sept. 1. Boonstra is scheduled to officially leave his post on April 30, 2001.

Kleisterlee has over 25 years of experience at Philips and held executive positions with the Medical Systems division, Professional Audio Systems (now part of the Consumer Electronics division), Philips Display Components and the Philips Group in China.

In addition Adri Baan, president & CEO of Philips Consumer Electronics, announced his resignation effective March 29, 2001. A replacement has not been named and the company added that Baan will "continue to contribute to the company as an advisor."

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