Philips' new CEO will go on with the former leader's five-year stategy

According to Royal Philips Electronics, its current CEO Gerard Kleisterlee, will step down in April 2011 and will be replaced by Frans van Houten, a former Chief Executive of Philips' semiconductor business NXP, and van Houten will continue to build on the Dutch company's current strategy, seeking to benefit from an aging population, growth in emerging markets and increased awareness of energy efficiency.

Philips set out its strategy for the next five years, targeting a higher proportion of revenues from emerging markets, and continuing to focus on healthcare, lighting and consumer lifestyle products.

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