Lighting manufacturer Signify has voted that its Chief Executive Officer, Eric Rondolat, be reappointed for a further four-year period.
Despite a 14% annual decrease in earnings per share over the past three years and a 12% drop in revenue last year, the board backed Rondolat, proposing his reappointment to signal confidence in his leadership.
The 57-year-old joined Philips Lighting in 2012 and has remained a steady leader through significant industry changes. Over the past 12 years, he navigated the transition to LED technology, corporate spin-offs, and major rebranding efforts. Six years ago, he led Philips Lighting‘s spin-off from Royal Philips, creating Signify, now the world‘s largest pure-play lighting company.
Rondolat‘s current four-year contract, expiring tomorrow, included managing global COVID-19 lockdowns and acquiring Cooper Lighting, a $1.64 billion company, at the pandemic‘s onset.
Source: www.signify.com
