Philips shareholders voted overwhelmingly against Philips’ bonus policy. Several investors had previously indicated that they would vote against, because they did not accept the bonus of 1.8 million euros that Philips CEO Frans van Houten would receive.
Investors are dissatisfied with the company’s results. Philips has a problem with delivery issues and sleep apnea devices. The company launched a recall that cost about 900 million euros.
About 80% of the shareholders present at the annual meeting voted against. Votes are not binding. A Philips spokesperson said the bonuses have already been paid out and will not be canceled now.
Commissioner Feike Sijbesma said after the vote: “We regret this result and take these comments seriously.” said. “I want to point out that the board of directors is also doing well, but we will continue to talk to shareholders next year,” he said.
Source: NOS
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