February 26, 2013 – Royal Philips Electronics will propose to the annual general meeting of shareholders (AGM)—being held May 3, 2013—to change the name of the company to Koninklijke Philips N.V. (Royal Philips).

“Philips is a diversified technology company focused on delivering meaningful innovation in healthcare, energy-efficient lighting and consumer health and well-being,” said Philips CEO Frans van Houten (photo). “We believe having Royal Philips as our new company name, will position us well in our endeavour to make the world healthier and more sustainable.”

Last month, Royal Philips Electronics signed an agreement regarding the transfer of its Lifestyle Entertainment business (audio, video, multimedia and accessories) to Funai Electric Co. Ltd.