Repositioning an industrial icon as a healthtech leader
In 2016 Royal Philips made the historic decision to split off its 120-year-old lighting business and reposition itself as a healthtech leader. Our role was, and remains, to help refine, challenge and communicate a new narrative.
Approach
We have worked with the leadership team of Royal Philips for over a decade, providing advisory and coaching support ahead of quarterly results and key investor meetings.
When the company changed strategic focus away from its diversified industrial history to health technology, it needed its customers, employees, investors, suppliers, regulators and unions to understand its business and the metrics of progress more clearly than ever before. We provided:
- Support to the leadership team and in-house communicators on how the restructure might be received by stakeholders
- Strategic input to help shape the story
- Coaching to enable regional leaders to tell the story well
Result
With our help, Royal Philips’ efforts to reposition itself as a leader in health technology were acknowledged and welcomed by industry analysts and the wider market. The company was reclassified from the industrials sector to healthcare within various indices, including STOXX Europe 600 index and FTSE Group’s ICB with its attendant re-rating.
