Royal Philips names new CEO to help company transition

Royal Philips has appointed Ivy Lai as its new chief executive officer (CEO) for Singapore. In her new role, Lai will oversee Philips Singapore’s transition strategy from a consumer electronics company to being a leader in health technology.

In addition to being CEO for Philips Singapore, Ivy continues to double-hat in her current role as CFO for Philips ASEAN Pacific, based in Singapore. Prior to this, Lai held a number of senior positions in Greater China, including her last role as CFO for Philips Greater China, based in Shanghai, before returning to Singapore to take on the role of CFO for the ASEAN Pacific region.

The announcement follows the opening of Philips’ new regional headquarters in Singapore last year, and a string of high-profile local partnerships including a joint-investment initiative with EDBI and the recent announcement with the Singapore Institute of Advanced Medicine Holdings (SAM), Varian Medical Systems and IBA Worldwide to build a first-of-its-kind Advanced Medicine Oncology Centre in Singapore, based at the Biopolis, Singapore’s international biomedical research hub.

Caroline Clarke, CEO, Philips ASEAN Pacific, said “Singapore is a critical hub and regional headquarters for us in the ASEAN Pacific region, and Ivy takes this role at a pivotal time when we are successfully transitioning to a market leader in health technology. The Advanced Medicine Oncology Centre is the latest in a number of partnerships that we are forging in Singapore, and we’re delighted to have Ivy on board to spearhead our ongoing commitment to the country.”