Philips President Plans to Retire

C. J. van der Klugt will retire as president of N. V. Philips, the Dutch electronics company, July 1, 1991.

J. D. Timmer, chairman of Philips’ consumer electronics division, has been nominated to replace van der Klugt. His nomination will be put before the company’s shareholders in spring, 1991.

Van der Klugt also is chairman of the company’s board of management, which has primary responsibility for running the company, and of the company’s group management committee, which determines the general policy of the Philips group of companies. Timmer will also be nominated for these posts.

Stephen C. Tumminello has been elected president, chief executive and chairman of the executive management committee of North American Philips Corp., Philips’ U.S. arm, effective June 1.

Tumminello, executive vice president and vice chairman of the executive management committee of North American Philips, succeeds Einar Kloster. Kloster has been elected president and chief executive of Philips Lighting Holding B.V. of the Netherlands.