Philips Consumer Electronics CEO Departs; Division's Future in Doubt
Atlanta -- Larry Blanford, CEO of Atlanta-based Philips Consumer Electronics, will leave the company at the end of this month and be replaced by Reinier Jens, head of the Northern Europe division of Philips Consumer Electronics. Blanford, a former executive with Maytag, joined Philips three years ago. Recently, Netherlands-based Philips announced that it will lay off about one-third of its employees in the Consumer Electronics Division by the end of the year and that the operation will be shut down entirely if it does not reach profitability within the next several quarters. http://www.pressi.com/int/nomination/81670.html
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.