Philips Healthcare chief DiSanzo departs

Deborah DiSanzo, CEO of Philips Healthcare, has left the company in advance of quarterly results anticipated to fall short of expectations. Philips’ top executive Frans Van Houten, CEO, will manage the group, with healthcare business units reporting directly to him.

According to a report in the Wall Street Journal, the company is implementing a new management structure capable of quicker responses to market changes. Healthcare accounts for about 41% of the Dutch electronics manufacturer’s sales. Philips, GE and Siemens each claim about 20% of the hospital scanner market, but future growth is likely to be driven by China, where competition is keen, the journal reports.

Philips overall second quarter earnings before interest and taxes (EBITA) were in line with expectations at ~400 million euros, though below 2013 second-quarter results of 603 million euros..

Healthcare second-quarter EBITA was expected to fall well short of analysts’ projections of 258 million euros and come in at 220 million euros, according to the WSJ. Factors cited in the report were the euro’s appreciation against the dollar and closure of a manufacturing facility in Cleveland for upgrades.