Philips Healthcare Retools, CEO Is Out

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Royal Philips (NYSE:PHG) said today that it's shedding a layer of management for its Philips Healthcare business after reported lower-than-expected earnings for the 2nd quarter, meaning the departure of Philips Healthcare CEO Deborah DiSanzo.

The healthcare unit will report directly to Royal Philips CEO Frans van Houten, the company said.

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