Philips says CFO quits, names replacement

AMSTERDAM (AP) - Royal Philips Electronics NV says its chief financial officer is leaving the company March 31, and named a replacement.

The company says Ron Wirahadiraksa, a Dutch national who is currently the top financial executive at the company's health care arm, will replace Pierre-Jean Sivignon as CFO.

Philips said Monday Sivignon "is leaving for personal reasons and will pursue a career outside the company."

The decisions means Philips will switch CEOs and CFOs almost simultaneously, since chief executive Gerard Kleisterlee is retiring on April 1. His replacement, Frans van Houten, has also been named.