ManagementChanges

Philips Names Van Houten New CEO as of April 2011

Royal Philips Electronics (PHG) named Frans van Houten as its new CEO, effective April 2011. Van Houten, 50, will replace Gerard Kleisterlee, Bloomberg News reported. Van Houten was a member of the Philips management board until 2006, and led the spinoff of the company%u2019s semiconductor business.