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    Royal Philips

Not many CEOs have engineered the kind of transformation that van Houten has executed at Philips, steering the 126-year-old Dutch firm through a “radical pivot,” as he calls it—transforming an Old World maker of electronics and lighting into a leader in health care technology. Under his stewardship, Philips has shed slower-growth businesses (it sold its television unit and spun off the lighting business) and invested heavily in R&D to focus on meeting the “world’s unmet needs.” Over the past 12 months, Philips has grown revenues by 30% and profits by 83%. Shareholders, for their part, have gotten a three-year total return of 67%. —Leigh Gallagher