Philips calls for Annual General Meeting of shareholders to discuss several issues

Headquartered in the Netherlands, Royal Philips is a leading health-tech company that focuses on improving people's health through early diagnosis and treatment. In 2021, Philips generated a sale of EUR 17.2 billion. Philips is spread over 100 countries and has more than 78,000 employees. The company recently has declared that it will soon be hosting its AGM to discuss multiple issues that need immediate attention. The call for the Philips Annual AGM was mainly made to appoint and re-appoint several supervisory board members.

What is the Annual General Meeting (AGM) of shareholders?

• The annual General Meeting (AGM) is a yearly gathering of all the company's shareholders.
• In this gathering, the company's director shares a report with shareholders regarding the performance and upcoming plans.
• Shareholders ask questions and vote on current issues like the selection of the board of directors, auditors, payment, to name a few.
• Sometimes, shareholders who cannot join the meeting usually vote in the proxy. The proxy vote is generally done online or sent over mail.

When asked about the exact date of the meeting, the company said that on May 10, 2022. The conference will commence at 14:00 CET. Also, a live telecast will be made available on Philips’ website. As the pandemic continues to persist, this AGM will be conducted virtually on online platforms. Shareholders are invited to share voting instructions or vote online at the AGM.

What is the agenda of Philips AGM 2022?

• The motive of Philips's 2022 AGM is to discuss the ongoing issues, such as appointing Sanjay Poonen and Herna Verhagen
• It was also to re-instate supervisory board members such as Marc Harrison and Paul Stoffels.
• Another critical point was the re-appointment of Ernst & Young Accountants LLP as the company’s auditor.
• There were also proposals regarding the financial statement and dividend of the company.

To find more information about the ongoing procedures and overall logistics of the meeting, you can visit and read the convocation notice provided by the company.