Euronext Amsterdam hosts Philips to celebrate the company’s 130-year history of benefitting Dutch society and the Netherlands economy

Philips CEO Frans van Houten presented with sculpture of Roman god Mercury

By India Education Diary Bureau Admin On May 27, 2021

When a new company is listed on the Euronext Amsterdam stock exchange, it is presented with a replica of the sculpture of Mercury (the Roman god of commerce and trade) that stands over the Euronext Amsterdam trading floor. It’s a tradition that goes back many years, but unfortunately for Philips not far back enough. Philips was first listed on the Amsterdam Stock Exchange in 1912, twenty-one years after the company was founded in 1891 but long before the tradition of being presented with the sculpture began. Philips has been included in the AEX-Index, Euronext Amsterdam’s main stock index, since its inception in 1983.

During celebrations on May 12, 2021, to mark the 130th anniversary of Philips and its 109-year partnership with the Amsterdam Stock Exchange, Euronext Amsterdam CEO Simone Huis in ‘t Veld showed historic items from the Euronext archives, such as the very first Philips shares brought to market in September 1912, when an Amsterdam bank began the sale of Philips shares. She also made the symbolic gesture of presenting Philips CEO Frans van Houten with a sculpture of Mercury in recognition of the long-standing partnership between the two organizations and Philips’ role in Dutch society and the growth of the Netherlands economy.

Euronext Amsterdam CEO Simone Huis in ‘t Veld addressed the gathering in a boardroom speech after Philips employee Mirjam Rubbens struck the trading floor gong to open the day’s trading: “Philips has always used the capital market where it stands for – creating access to capital and using the capital market to facilitate the growth of your company. The performance of your shares proves that your shareholders and investors have strong faith in the future of Philips.”

It’s not easy for companies to stay relevant, but we stay relevant because we always innovate ourselves to ensure we can make a positive impact in the world

Frans van Houten

CEO of Philips

“It’s not easy for companies to stay relevant, but we stay relevant because we always innovate ourselves to ensure we can make a positive impact in the world,” said Frans van Houten. “Innovation, entrepreneurship, and collaboration have been the foundations that enabled Philips to reinvent itself and grow. The stock markets have an important role to play because they facilitate a marketplace and markets drive the economy.”

“The Amsterdam Stock Exchange has helped us evolve from a lighting company, to a diversified industrial conglomerate, and now to a global leader in health technology,” added Abhijit Bhattacharya, CFO of Philips. “We appreciate the scalable platform and regulated environment that it offers us. It’s a trusted source for our investors.”

Frans van Houten concluded: “We look forward to many more years being listed in the Netherlands and thank Euronext for all their years of support.”