Philips Moves Domestic Appliances to Shanghai in Push for China
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Royal Philips Electronics NV, Europe’s biggest maker of consumer electronics, will move the headquarters of its domestic appliances business to Shanghai early next year to spur revenue growth in China and the region.
“One of the first decisions I took was taking domestic appliances’ leadership to Shanghai,” said Pieter Nota, who two months ago took over as head of the consumer lifestyle unit that makes shavers, televisions and coffeemakers. “As we see the center of gravity for growth in domestic appliances will be in China and India, it makes sense to have the leadership in China and have a leader from Asia.”