Philips names new CEO for Singapore

HEALTH technology company Royal Philips has appointed Ivy Lai as its new chief executive officer for Singapore.

In her new role, Ms Lai will oversee Philips Singapore's transition strategy from a consumer electronics company to being a leader in health technology. On top of that, she will continue in her current role as chief financial officer (CFO) for Philips Asean Pacific, based in Singapore, the company said.

Prior to this, Ms Lai held a number of senior positions in Greater China, including her last role as CFO for Philips Greater China, based in Shanghai.

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.