The company that launched the air fryer

The air fryer is arguably one of the most popular inventions of the 21st century. It was conceived by the Dutch engineer Fred van der Weij and then the prototype was picked up and launched as a commercial product by Philips in 2010. Around 60 per cent of households in the US and 50 per cent in Europe now own one, which is extraordinary. For a brief video on how van der Weij actually invented it, I recommend watching this short BBC video.

Philips was, and still is, one of the biggest consumer electronics brands in the world. It was founded in 1891 by Dutch inventor Frederik Philips and his son Gerard, who developed cheap and reliable light bulbs. In 2021 Royal Philips, as the company became known, was split into a healthcare business and a consumer electronics business. The consumer business was renamed Versuni bought by investment firm Hillhouse Capital in a deal worth more than £3bn.

In the latest episode of the Business Leader Podcast, I speak to Veronique Pauwels, the chief executive of Versuni. She took the top job earlier this year having spent 28 years at the consultancy firm Bain, where she was head of the performance improvement and transformation practice across Europe. This has given her a fascinating insight into what it takes to turn around the performance of a business. The episode also examines how leaders can develop their strategic thinking and why Pauwels likes playing chess.