Bill Sims ends tenure at Philips Solid-State Lighting
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Under Sims' leadership, Color Kinetics achieved sustained profitability and its revenues grew 30% per year on average between 2001 and 2007. He guided the company's strategic direction, sales operations, expansion of its OEM business, and the creation of its successful licensing program. He also oversaw the company's most pivotal milestones, including its successful initial public offering in June 2004 and its acquisition by Philips in August 2007 for just under $1 billion.
As a result of this and other acquisitions, totaling more than $4.2 billion in the last two years alone, Philips has emerged as a leader in the increasingly