Signify: sales down in 2024, CEO on the move

(CercleFinance.com) - Signify announced on Friday that Eric Rondolat, the company's Managing Director for the past nine years, would be stepping down, after reporting a further decline in sales for the 2024 financial year.


The Dutch lighting specialist states that Eric Rondolat will be stepping down following the next Annual General Meeting of Shareholders, scheduled for April 25.

In a statement, the group says that its supervisory board plans to conduct a recruitment process to identify his successor, considering both internal and external candidates.

Eric Rondolat took over as CEO of Signify in May 2016, immediately following the group's IPO on Euronext Amsterdam in the wake of its demerger from Philips.

He had previously been CEO of the Dutch conglomerate's lighting activities between 2012 and 2016.

His departure comes as Signify saw its sales fall by 8% last year, to 6.7 billion euros, with adjusted operating margin (Ebita) down from 10% to 9.9%.

For 2025, the company says it anticipates sales growth of 0% to 5%, while specifying that this target is exclusive of 'conventional' activities, i.e. the branch encompassing special lighting systems, digital projection and luminaire electronics.

Its operating margin (Ebita) is expected to remain stable year-on-year.

Following these announcements, Signify shares climbed over 4% on Friday on the Amsterdam Stock Exchange, returning to their highest level since last summer.

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