The shareholders of Philips Lighting formally agreed to the change of name to Signify yesterday, 14 May. As of today, the company will start to carry the new brand name everywhere. However, the company expects that it will take until early 2019 before this can actually be seen all over the world. The familiar name Philips will remain on the company’s products; Signify has permission to do so from Royal Philips, the health company that created the lighting division. Actually, 127 years ago the company started with light as its core business.
“The choice of our new company name originates from the way light becomes an intelligent language, which connects and conveys meaning,” said Eric Rondolat, CEO of Signify. “It is a clear expression of our strategic vision and purpose to unlock the extraordinary potential of light for brighter lives and a better world.”
With operations in more than 70 countries and 32,000 people worldwide, Signify generated sales of EUR 7 billion and invested EUR 354 million in Research and Development in 2017.
“We are driven by the principle that light is essential,” Eric Rondolat added. “And by connecting it to networks, software, sensors and IoT platforms, we open the door to a smarter world.”
The annual shareholders’ meeting took place at the High Tech Campus in Eindhoven, Signify’s head office. The shareholders also approved the appointment of Eelco Blok as a member of the Supervisory Board.