On Friday when it published its Q1 results Signify announced the appointment of Zeljko Kosanovic, its current CFO, as interim CEO.

The announcement comes as Eric Rondolat, who has led the Dutch lighting specialist since its split from Philips in 2018, is set to leave the company following today's annual general meeting.

In a statement, the Eindhoven-based group said that the identification of internal and external candidates is now almost complete and that it expects to complete the recruitment process next month.

Signify's Q1 revenue declined by 1.3% to €1.45bn, while its adjusted operating margin (EBITA) fell to 8% from 8.3% a year earlier.

However, net profit rose to €67m, compared with €44m a year earlier, with free cash flow of €40m, compared with €80m in Q1 2024.

For 2025, Signify says it expects adjusted operating margin to be stable compared to 2024, with the strength of its professional, consumer and OEM (manufacturers) businesses more than offsetting the weakness of its conventional activities.

On the Amsterdam Stock Exchange, the stock rose 0.9% following these announcements, but is still down over 11% YTD.


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