The former top executive of Philips, Cor Boonstra, passed away in his hometown of Amsterdam on Saturday night at the age of 87. His family announced this to news agency ANP. Boonstra led the electronics company from 1996 to 2001.
Under Boonstra, the headquarters of the Eindhoven-based company were moved to Amsterdam. In addition, Philips, under Boonstra’s leadership, made a significant leap in stock market value.
Born in Leeuwarden in 1938, Boonstra was brought to Philips in 1994 by the then chairman Jan Timmer. Under Boonstra’s leadership, the “Let’s make things better” campaign was created. This shifted the emphasis in advertising from the products to the Philips brand.
During Boonstra’s tenure, Philips focused on LCD screens and LED lighting. In 2001, the year he stepped down, the company presented the Senseo coffee machine. Boonstra was succeeded at Philips by Gerard Kleisterlee, who shifted the company’s course towards health.
After leaving Philips, Boonstra was repeatedly embroiled in controversy over alleged insider trading, including in Ahold shares. He received a fine in that case.
In 1998, his wife, Hansje Boonstra-Raatjes, survived a kidnapping attempt. She was found seriously injured in Hoek van Holland by the police.