Results of Philips’ 2023 Annual General Meeting of Shareholders

May 9, 2023

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) announced that today’s Annual General Meeting of Shareholders (2023 AGM) has reappointed Abhijit Bhattacharya for a two year’s term as member of the Board of Management fulfilling the role of CFO, and reappointed Liz Doherty and David Pyott as members of the Supervisory Board. With these reappointments, the composition of the Supervisory Board committees remains unchanged.

Other voting items, such the company’s proposed dividend of EUR 0.85 per share over 2022, [1] the proposal to reappoint EY as the company’s external auditor for a term of one year starting January 1, 2024, and the proposal to appoint PricewaterhouseCoopers as the company’s new external auditor for a term of four years starting January 1, 2025, as well as a number of recurring items, including the proposal to adopt the company’s financial statements, [2] were also approved. Additionally, the AGM approved the advisory voting item on the 2022 Remuneration Report.

Shareholders voted against the discharge of the collective members of the Board of Management. This follows the voting guidance from certain proxy advisors to signal discontent in respect of one former member of the Board of Management.

“Following the recent changes made in the Executive Committee, I am pleased that Abhijit is adding a two-year’s term to his tenure as CFO, thereby ensuring continuity and enabling a smooth succession process in parallel,” said Feike Sijbesma, Chairman of the Supervisory Board of Royal Philips. “I am also pleased that Liz and David will continue to serve as members of the Supervisory Board and support Philips with their much-valued expertise and counsel.”

Mr. Sijbesma continued: “We appreciate the support expressed by the shareholders regarding current management and direction of Philips. Under the leadership of its new CEO Roy Jakobs, Philips is fully focused on implementing the plan to create value with sustainable impact for our shareholders and all other stakeholders.”

In January 2023, Philips CEO Roy Jakobs and his team presented the company’s plan to create value with sustainable impact. Philips is executing to plan on its three priorities to improve execution by enhancing patient safety & quality, strengthening its supply chain reliability, and establishing a simplified, more agile operating model.

Additional information on the composition of the Board of Management, the Executive Committee and the Supervisory Board can be found here. For more information about Philips’ 2023 AGM, please click on this link.

[1]    Further details about the dividend can be found via this link.
[2]    Philips’ 2022 financial statements are included in its 2022 Annual Report that was published on February 21, 2023.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 615213446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 74,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachment

GlobeNewswire Distribution ID 1000809038

Etihad Cargo Enhances Air Shipment Visibility Using Combined Solution from Descartes and Jettainer

MUNICH, Germany and ATLANTA, May 09, 2023 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq: DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Etihad Cargo, the cargo and logistics division of Etihad Airways, has further automated air cargo processes using Descartes’ next generation Internet of Things (IoT) Bluetooth® Low Energy solution integrated with Jettainer’s unit load device (ULD) management services. The combined solutions expand Etihad Cargo’s ability to improve ground processes at cargo and ULD handling and to gain data-driven insights into the transport and ambient conditions of air cargo in transit.

“At Etihad Cargo, we’re continuing to invest in technology and innovation to make air cargo handling more efficient, smarter and faster, and this includes the usage and management of our ULD fleet,” said Thomas Schürmann, Head of Cargo Operations & Delivery at Etihad Cargo. “The addition of Descartes’ next generation IoT devices to our ULD fleet provides true operational value for us. Etihad Cargo expects to reduce the number of lost ULDs—those that lose their trail somewhere at the airport, at the ground handling agent or the forwarder—by being able to tell exactly where they were last seen. We furthermore expect to simplify ground processes, for example, by reducing the time and effort spent on stock take.”

“As part of our premium product, ULD Select, the combination of our sophisticated ULD management solution with Descartes’ next generation IoT devices can be a powerful boost to our service. The technology can provide our valued customers like Etihad Cargo insights into the conditions of their freight, give access to detailed location information, facilitate ULD processing on the ground, and thus further improve asset utilization,” said Ram Krishnaswamy, General Manager Middle East, Africa, & Indian Subcontinent at Jettainer. “Jettainer embraces innovation and digitalization, and this is exactly what we experience with Descartes as the leading technical provider in the field of Bluetooth® Low Energy tracking solutions. Potential benefits are not limited to ULD processing; we also see value in streamlining export, transit and import cargo processes and will explore this further with our customers and partners.”

Descartes’ next generation IoT Bluetooth® Low Energy ULD tracking uses Bluetooth® tags affixed to containers or pallets, mobile applications and mesh networks to automate end-to-end tracking of assets. Bluetooth® tags affixed to ULDs prior to loading enable easy access to real-time location information, shipment-level condition data, such as temperature, light, humidity and movement, and chain of custody detail that indicates whose custody assets are in at any given time. Tags can also be added to any ground service equipment, like dollies, for full control over a carrier’s equipment.

“We’re pleased to help Etihad Cargo optimize the use of its ULD fleet with richer visibility at both the asset and shipment level,” said Scott Sangster, General Manager, Logistics Service Providers at Descartes. “ULDs are the backbone of the air cargo supply chain and, with coverage in over 1,300 reader locations and 200 airports worldwide, Descartes’ innovations in IoT-based tracking and advanced network capabilities are helping airlines access the status of their ULDs anytime, anywhere—through any internet-enabled device.”

About Etihad Cargo

Etihad Cargo is the cargo and logistics arm of Etihad Airways. Since its establishment in 2004, Etihad Cargo has grown rapidly to become one of the leading air cargo carriers in the world, offering customers a range of cargo products and services to five major continents. Its hub in Abu Dhabi is strategically located at the centre of the world’s busiest trade lanes, providing an integral link between Asia, Europe, North America, Australia and Africa.

In addition to general cargo, Etihad Cargo offers a wide range of specialty products including live animals, dangerous goods, valuables and vulnerables, personal effects, as well as its market leading cold chain products (the latter holding IATA’s stringent Centre of Excellence for Independent Validators certifications for both Pharmaceutical and Perishables Logistics, as well as Live Animals Logistics).

For more information, please visit www.etihadcargo.com.

About Jettainer GmbH

With more than 100,000 Unit Load Devices (ULDs) in 500 locations worldwide, Jettainer operates the world`s most efficient ULD fleet. Through its unique combination of dedicated teams and leading IT landscape, using big data and artificial intelligence, the industry expert guarantees steering and positioning as well as maintenance and repair with 100% availability of containers and pallets. A strong partner and independent repair network, close to the customer’s processes, completes Jettainer’s global setup with local presence. Meaningful innovation and digitization for highest efficiency at lowest cost are key for the transparency driver. Its continuously enhanced service and product portfolio is complemented with ULD leasing services, cool management and temperature chain solutions. Jettainer GmbH is a wholly owned subsidiary of Lufthansa Cargo AG. Learn more at www.jettainer.com.

About Descartes

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

Global Media Contact
Cara Strohack
Tel: +1(800) 419-8495 ext. 202025
cstrohack@descartes.com

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ solution offering and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

GlobeNewswire Distribution ID 8834862

nCino Kicks off Annual Conference, nSight, Advancing Modernization in Financial Services

CHARLOTTE, N.C., May 09, 2023 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today kicked off nSight 2023, its annual user conference in Charlotte, NC.

The three-day immersive event brings together over 1,700 professionals from the global financial services industry including corporate; commercial; regional and community banks; credit unions; and strategic ecosystem partners to demonstrate and discuss the latest trends, best practices, and innovations in the financial services industry. In the 11 years since its inception, nSight has grown to become a must-attend event for those interested in staying ahead of the curve in the banking industry.

During the conference, nCino will announce the winners of its Financial Services Impact Awards, an annual recognition program that honors financial institutions that are innovating and delivering value to their clients through nCino’s platform. U.S. Bank is a finalist this year in the Innovation category.

  • “Innovation is not just about doing something new; it’s about challenging the status quo and finding new ways to add value to the lives of our clients. By adding simplicity and agility throughout our processes, we can improve outcomes for our clients. This recognition is a testament to the hard work and dedication of our team across the bank focused on helping us create a better banking experience for all,” said Tina Cartwright, SVP, Transformation Strategy Executive, U.S. Bank.

For additional details about the conference, including the full agenda, list of keynote speakers and breakouts please visit www.nsightconference.com.

Soundbites:

  • “Banking is a lot like race car driving. It’s all about momentum, knowing when to accelerate and taking calculated risks to come out ahead. As a keynote speaker at nSight, I look forward to inspiring and motivating the audience to move with speed and an entrepreneurial mindset driving the financial services industry forward,” said Rusty Wallace, former NASCAR driver and Hall of Fame inductee.
  • “We’re pleased to welcome so many industry experts to Charlotte for our largest nSight conference yet. Banks and financial institutions must focus on modernizing their tech stack and put the right tools in place to promote efficiency, automation, and CX. Through nSight, nCino is providing an experience that allows individuals to take advantage of the learning and development they want most,” said Pierre Naudé, Chairman and CEO of nCino.

About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,850 financial services providers globally. For more information, visit www.ncino.com.

Media Contacts
Natalia Moose
natalia.moose@ncino.com

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, among others, risks and uncertainties relating to the market adoption of our solution and privacy and data security matters. Additional risks and uncertainties that could affect nCino’s business and financial results are included in reports filed by nCino with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC’s web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

GlobeNewswire Distribution ID 8834879

Modelo Oro, the Gold Standard of Light Beer, Launches Nationwide

Modelo targets the $4.5B high-end light beer category as part of its efforts to reach new drinkers and become the No. 1 beer in the country

Modelo Oro

Modelo Oro: The Gold Standard of Light Beer

CHICAGO, May 09, 2023 (GLOBE NEWSWIRE) — Modelo, the No. 2 top-selling beer brand in the U.S.*, announced today the national launch of its latest product innovation – Modelo Oro. Filling a void in the high-end light beer category, Modelo Oro is a time-crafted cerveza that seals in the golden flavor of Modelo to deliver an exceptionally smooth, elevated light beer with a crisp, clean finish that is worthy of the name “gold.”

“People are increasingly reaching for high-end, premium light beer offerings,” said Greg Gallagher, Vice President of Brand Marketing, Modelo. “After a successful regional launch in which two-thirds of buyers were new to the Modelo brand**, we’re confident that offering Modelo Oro across the country as the new gold standard for light beer will help us build authentic connections with new drinkers.”

Brewed for those looking for a light option without sacrificing the traditional Modelo flavor they know and love, Modelo Oro is available nationally in 12 ounce 12-packs and 24 ounce single-serve cans. Each 12-ounce serving of Modelo Oro is primed for premium sessionability with 90 calories, 3g carbs and 4.0% ABV.***

“Successfully meeting changing consumer preferences while maintaining the authenticity and quality are the hallmarks that built the Modelo brand and helped the Casa Modelo family surpass the 200 million cases mark in sales in 2022,” said Gallagher. “With our innovations and continued growth in Modelo Especial, becoming the No. 1 beer brand in the country is completely within reach.”

For more information on Modelo Oro and other Casa Modelo products, visit www.modelousa.com.

*IRI Total MULO + C L52 w/e 1/1/23
** Custom IRI incrementality study covering March – August 2022
***0.7g protein, 0g fat per 12oz

ABOUT MODELO® 
Born in 1925 in the small town of Tacuba, Mexico, Modelo has been bringing distinctive high-quality beer to those with the Fighting Spirit ever since, including Modelo Especial®, Modelo Negra®, Modelo Chelada Especial™, and a flavorful lineup of Modelo Cheladas™. Modelo Especial is a golden, full-flavored Pilsner-style lager with a clean, crisp finish. As the #1 imported beer in the U.S., Modelo Especial recently surpassed 175MM cases sold in 2022 and became the #2 beer brand in the category. The Modelo family of beers are exclusively brewed in Mexico and imported and marketed for the U.S. by Constellations Brands.

Media Contact:
Stephanie McGuane
Stephanie.mcguane@cbrands.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2699aab1-8312-4231-ab09-e363617e23c1.

GlobeNewswire Distribution ID 8834886

Consumers across the globe desire humanized experiences when navigating the insurance industry

Duck Creek Technologies launches the second edition of the Global Consumer Insurance Insights survey of over 2,000 global consumers, aimed at refining the strategies that bring insurers closer to consumers worldwide

Boston / London, May 09, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, has proudly published its second annual benchmark survey, the 2023 Global Consumer Insurance Insights. The survey reveals strong demand from global consumers for humanized insurance purchasing, switching and communication experiences through digital channels.

The 2023 wave of research – which is being launched at the Duck Creek Technologies Formation ‘23 event for customers and partners from May 8-10, was conducted independently by Research in Finance for Duck Creek Technologies and surveyed over 2,000 policyholders across 13 countries, all of whom held at least one insurance policy.

Aimed at refining the strategies that bring insurers closer to consumers worldwide, this year’s survey is more extensive than the inaugural 2022 edition, with more questions and responses from policyholders across more countries. The survey provides insights for carriers, reflecting consumer preferences and awareness of innovation opportunities, purchasing, and communication methods.

Key findings from the survey include:

 

  • 93% of consumers are confident they have the proper coverage, irrespective of which channel they used to purchase the insurance policy.
  • Once a policy is in place, 44% of consumers prefer human interaction (2022: 35%). At the same time, however, interest in app/WhatsApp usage for buying and switching insurance also increased year-over-year.
  • 46% of global consumers are unaware of embedded insurance. Of those who were aware (37%), almost half said they trust it because of product or retailer quality. Those who do not trust it (26%) find embedded insurance unnecessary and expensive. Those who are unsure (29%) require more information, having had little experience with embedded insurance.

The survey reveals significant positives for insurance providers and clearly shows they are getting it right in many areas. However, it also highlights areas where insurers must reflect and improve further – including bolstering global consumer confidence and trust in insurance.

According to Jess Keeney, Chief Product & Technology Officer at Duck Creek, “As the insurance industry continues to evolve, it is crucial for providers to listen to the needs and preferences of their customers. The 2023 Duck Creek Technologies benchmark survey provides invaluable insights into consumer behaviors and trends, highlighting the areas where insurers can maximize accessibility, accelerate speed to market, and differentiate competitively.”

While the survey shows that carriers around the world are responding quickly to consumer demand for more relevant and timely products and services, it also reveals that a significant number of consumers prefer a humanized experience when interacting with their insurance providers. This emphasizes the importance of exploring ground-breaking and varying communication options to meet the needs of diverse customers.

Keeney adds, “It is encouraging to see that despite the challenging economic environment, people are re-evaluating their insurance needs and considering a wider range of products. Mobile and gadget insurance, travel insurance, and embedded insurance are being purchased more frequently than other types of insurance.

Duck Creek’s 2023 survey is a vital resource for insurance providers, offering unique insights into customer perceptions and highlighting the next opportunities for innovation. We urge providers to delve deeply into the results and continue pushing the frontiers of the insurance industry forward.”

Research in Finance Head of Research, Karen Scott, added, “In the insurance industry, listening to consumers is essential for success. As the Global Consumer Insurance Insights Survey 2023 demonstrates, primary research capturing changing behaviors, user feedback, and satisfaction is invaluable to help inform insurance company strategies, new product development, marketing, and communications plans. Insurers now have access to significant data sets to compare year-on-year, creating a true benchmark series of reports we are proud to support. Ultimately, insurers who prioritize listening to and understanding their consumers will come out on top.”

The 2023 Global Consumer Insurance Insights Survey highlights four key calls to action for insurers:

  1. Maximize accessibility of insurance products to consumers across channels
  2. Accelerate speed to market with the SaaS model
  3. Humanize the consumer experience through digital channels
  4. Leverage the SaaS ecosystem to differentiate competitively

Download the 2023 Global Consumer Insurance Insights Survey here.

About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Drake Manning
Duck Creek Technologies
+1 860 877 3609
drake.manning@duckcreek.com
GlobeNewswire Distribution ID 8833259