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August 11, 2026
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Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Exor N.V. today announced that they have agreed to update their long-term relationship agreement.
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It provides Exor with the flexibility to increase its shareholding in Philips to up to 22% of the company’s issued ordinary share capital and voting rights, up from the previous 20% cap, with the possibility of increasing its stake further subject to approval by the Philips Supervisory Board. Governance arrangements remain unchanged, including Exor’s right to nominate one member of the Philips Supervisory Board.
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Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips, said:
“Exor’s long-term commitment underlines its confidence in Philips and its strategy. The Supervisory Board values Exor’s constructive engagement, and I appreciate Benoît Ribadeau-Dumas’ continued contribution as we oversee Philips’ strategic direction.”
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Roy Jakobs, CEO of Royal Philips, said:
“The updated agreement reflects Exor’s support for Philips and its Board of Management as we execute our 2026–2028 plan. It underscores the value creation potential of the plan and our focus on delivering profitable growth.”
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John Elkann, CEO of Exor, said:
“We support Philips’ long-term strategy defined by innovation, value creation and disciplined execution. The updated agreement reflects our continued commitment to Philips as its largest shareholder.”
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About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.
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Headquartered in the Netherlands, the company is a leader in image-guided therapy, diagnostic imaging, ultrasound, monitoring, enterprise informatics and personal health. Philips generated 2025 sales of approximately EUR 18 billion and employs approximately 63,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
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About Exor
Exor N.V. (AEX: EXO) has been building great companies since its foundation by the Agnelli Family. For more than a century, Exor has made successful investments worldwide, applying a culture that combines entrepreneurial spirit and financial discipline. Its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Philips, CNH and Stellantis.
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Forward-looking statements and other important information
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.
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English (US)