Global lighting leader Philips Lighting (Amsterdam Euronext: LIGHT) today announced plans to change the company name (Philips Lighting) to Signify. The new company name is derived from a new definition of lighting: light has become a smart language that connects and communicates information.
According to the Royal Philips licensing agreement, the company's products will continue to use Philips, the world's most trusted lighting brand.
“As an important step in our transformation journey, we are pleased to announce the company’s new name,†said Eric Rondolat, global CEO of Philips Lighting. “The new company name not only clearly expresses our strategic vision, but also introduces a new Exclusive corporate identity, the best time to better unite 32,000 employees worldwide. At the same time, we will continue to use the Philips brand to promote our products."
Philips Lighting was founded in 1891 by the Frederick Philips and Gerald Philips in Eindhoven, The Netherlands, and has a history of more than 125 years. Philips Lighting has always led the lighting industry innovation, and has developed to cover the traditional lighting, LED lighting and smart connected lighting fields, and built the world's largest intelligent connected lighting network.
The company's name change complies with our Royal Philips' company name license agreement, which requires the company to be renamed when Royal Philips is no longer a controlling shareholder.
As an important step in the company's name change, the relevant resolution is scheduled to be voted at the Philips Lighting Holdings Annual General Meeting held on May 15, 2018, and the relevant contents of the Articles of Association will be updated after the resolution is passed. Philips Lighting's stock trading code will use "LIGHT".
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