Philips Vice President at TCL Philips wants to acquire TCL?
TCL Group Co., Ltd. (stock code: 000100, hereinafter referred to as TCL Group) announced on the evening of the 12th that the current senior vice president of Royal Philips Electronics Co., Ltd., and the chief financial officer of Greater China, He Jiangang, is the director of TCL Group.
Philips and TCL have been holding hands for a long time
According to public information, Philips and TCL have deep roots. Former Philips Vice President of Consumer Electronics, Liang Yaorong is the CEO of TCL Multimedia, and Philips Electronics (China) also holds a 6.3% stake in TCL Group, which is the third largest shareholder of TCL Group.
As early as 2004, TCL and Philips signed a cooperation agreement, and TCL was a Philips OEM LCD TV. On October 27 of the same year, Wende from Philips became a non-executive director of the TCL Group, with a term ending in June 2008. However, Wen Ande resigned as a non-executive director of TCL Corporation in January 2007.
Lu Renbo: Philips has increased voice in TCL Group
The close relationship between TCL Group and Philips will inevitably lead to speculation that Philips wants to acquire TCL.
Lu Jianbo, deputy secretary general of the China Electronics Chamber of Commerce, said that the possibility of mergers and acquisitions between the two companies is not great. He analyzed that TCL Group elected Philips executives as directors of the company, which is a normal inter-firm cooperation, indicating that the two sides will strengthen contact and communication in capital and products, and will also enhance Philips' voice in TCL.
Attachment: Senior Vice President of Philips Electronics Co., Ltd., Chief Financial Officer of Greater China, He Jiangang:
HoKiamKong (He Jiangang), born in September 1959, is a Singaporean citizen. He is currently Senior Vice President of Royal Philips Electronics Co., Ltd. and Chief Financial Officer of Greater China. He Jianggang graduated from Victoria University in Wilmington, New Zealand, and completed a senior management course at Harvard Business School in Boston, USA in the fall of 1998. Prior to joining Philips, He Jiangang worked in leading international financial institutions in Singapore, Hong Kong, New York and other places, working in corporate banking, treasury management, market expansion and sales.
He joined the Philips company in 1999 and has served as the head of the finance department of the Asia Pacific Financial Center in Singapore; the head of investment and financing of the Global Business Unit of Philips LG Electronics; the Chief Financial Officer of the Philips Asia Pacific Finance Center; and since May 1, 2005 Since then, he has been Senior Vice President of Royal Philips Electronics of the Netherlands and Chief Financial Officer of Greater China. He Jiangang is also currently serving as Philips (China) Investment Co., Ltd., Ambient Technology (Suzhou) Co., Ltd., Philips Lighting (Shanghai) Co., Ltd., Philips Home Appliances (Suzhou) Co., Ltd., Philips Electronic Components (Shanghai) Co., Ltd. and Shenzhen Gold Director of six companies of Kewei Industrial Co., Ltd. and Chairman of the Shanghai Branch of the European Union Chamber of Commerce in China.
As of December 23, 2008, He Jiangang did not hold shares in TCL Corporation, and was not punished by the China Securities Regulatory Commission and other relevant departments and the Shenzhen Stock Exchange.
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