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Philips Launches Plan to Realign Divisions Sep 18, 2007 |
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Royal Philips Electronics announced a new growth strategy, called "Vision 2010," that will realign some divisions to increase its market share.
Vision 2010 is a move to "further position Philips as a market-driven, people-centric company with a strategy and a structure that fully reflect the needs of its customer base, while also increasing shareholder value," the company said. Consumer electronics will now be part of Philips consumer lifestyle, a new sector to be formed as of Jan. 1, 2008. Andrea Ragnetti will become CEO of the consumer lifestyle sector.