Kleisterlee, 64, is due to step down as Philips CEO in March. He will be appointed as a non-executive director of Vodafone on April 1 before becoming chairman at the annual meeting in July, the U.K. company said today in a statement.
WHAT TO WATCH FOR: *The chief executive officers of Aegon NV and ING Groep NV will appear before parliament today to talk about the financial industry.
EQUITY MOVERS *CSM (CSM) NV agreed to buy Classic Cakes Ltd. with annual sales of 11.4 million euros ($15.8 million) in the U.K. *Randstad Holding NV (RAND) was raised to “buy” from “underperform” at Bank of America Corp. *SBM Offshore was raised to “neutral” from “underperform” at Goldman Sachs Group Inc. *TNT NV’s express business in Europe was negatively affected by exceptionally adverse weather conditions in December.
MARKETS: *The Amsterdam Exchanges Index (AEX) added 1.8 percent to 367.11. *The Stoxx Europe 600 Index gained 1.5 percent to 284.20. *The Euro was at $1.3840 at 8:10 a.m. Amsterdam time. *The Dutch 10-year bond yield was 3.374 percent at 8:10 a.m.
To contact the reporter on this story: Fred Pals in Amsterdam at firstname.lastname@example.org