8 May 2017

Lumileds appoints chief financial officer

LED maker Lumileds of San Jose, CA, USA (a subsidiary of Royal Philips) has appointed Ilan Daskal as chief financial officer (CFO).

Daskal has over 25 years of experience in senior financial roles, including VP of finance at Infineon Technologies NA and CFO at International Rectifier. “His breadth of experience in operations, mergers and acquisitions, and capital markets will help drive Lumileds future growth,” comments CEO Mark Adams.

Philips announced on 12 December 2016 that it had signed an agreement to sell a majority stake in Lumileds to certain funds managed by affiliates of Apollo Global Management LLC. The transaction is expected to be completed in first-half 2017, subject to customary closing conditions. As required by the agreement, Apollo has been briefed on the appointment of Ilan Daskal as CFO.

“The company’s legacy of innovation, customer engagement and performance leadership are all compelling factors that will drive continued success,” comments Daskal about Lumileds.

Lumileds develops, manufactures and distributes LEDs and automotive lighting products, with 9300 staff spanning operations in over 32 countries.

Tags: Lumileds

Visit:  www.lumileds.com