Philips appoints new CEO of Medical Systems division

31 October 2006

Amsterdam, The Netherlands. Royal Philips Electronics (NYSE: PHG, AEX: PHI) has appointed Stephen H. Rusckowski as CEO of Philips Medical Systems, effective November 1, 2006. Mr. Rusckowski will succeed Mr. Jouko Karvinen. Mr. Karvinen has been named the next CEO of Stora Enso Oyj, the global paper, packaging and forest products company.

On December 1, 2006, Mr. Karvinen will relinquish his position as member of the Board of Management of Royal Philips Electronics and leave the company. Mr. Karvinen was appointed CEO of Philips Medical Systems on October 1, 2002, and became a member of the Board of Management on April 1, 2006.

Steve Rusckowski currently has global responsibility for Imaging Systems, one of the business groups of the Medical Systems division. In addition, he plays a lead role in designing strategies to expand Philips' presence in the personal health and well-being domain. Since 1984, Mr. Rusckowski has held numerous management positions with the healthcare division of Hewlett-Packard/Agilent Technologies. He was the General Manager of Agilent's Healthcare Solutions Group when Philips acquired this business in 2001.

As CEO of Philips Medical Systems, Mr. Rusckowski will report to Mr. Gerard Kleisterlee, President & CEO of Royal Philips Electronics. From November 1, 2006, Mr. Rusckowski will be a member of Philips' Group Management Committee. The company's Supervisory Board will propose to the next regular General Meeting of Shareholders on March 29, 2007 to appoint Mr. Rusckowski as a member of the Board of Management as of April 1, 2007.

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