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Bill Sims Ends Tenure as CEO of Philips Solid State Lighting Solutions, Jeffrey Cassis Named Successor May 20, 2008... Bill Sims will step down as CEO of Philips Solid State Lighting Solutions of Burlington, Massachusetts USA in June 2008. Sims began being CEO when the company was named Color Kinetics. The company notes that his successful tenure of nearly seven years is marked many achievements. Jeffrey Cassis, the company’s current senior vice president and chief operating officer (COO) will succeed him as CEO. The company points out that under Sims' leadership, Color Kinetics achieved sustained profitability with average revenue growth of 30 percent per year between 2001 and 2007. Also according to the company, Sims guided its strategic direction, sales operations, expansion of its OEM business, and the creation of its successful licensing program. Mr. Sims oversaw the company's most pivotal milestones, including its successful initial public offering in June 2004. He also lead the company through its acquisition by Philips in August 2007 for just under $1 billion. See the Current Industry News Summary
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