April 25, 2025
Signify CFO Kosanović Appointed Interim CEO
Above: Željko Kosanović, interim Chief Executive Officer Photo credit: LinkedIn
Leadership change comes after Eric Rondolat’s 13 years and amid financial pressures
Signify has appointed Chief Financial Officer Željko Kosanović as interim Chief Executive Officer, effective immediately following the departure of Eric Rondolat, who officially steps down after the company’s Annual General Meeting of Shareholders on April 25.
The move had been in motion for some time. In January, the company publicly announced Rondolat’s planned exit, stating that a search for his successor—both internal and external—was underway. Under the terms of Rondolat’s employment agreement, a six-month notice period was required. That suggests the decision to part ways was likely made in October 2024.
Kosanović will maintain his position as CFO while assuming the additional responsibilities of interim CEO. The Supervisory Board noted that it expects to conclude its CEO selection process “next month,” but did not commit to a specific timeline for naming a permanent replacement.
The decision to appoint an interim CEO is not unusual in corporate transitions, particularly when executive searches involve external candidates who may face contractual obligations or extended notice periods in their current roles.
While the Board has not elaborated on its internal deliberations, Kosanović’s dual appointment provides continuity at a moment of operational and market pressure.
A Familiar Path for Kosanović
This marks the second time in just over a year that Kosanović has stepped into an interim executive role. In early 2024, he was named interim CFO before being formally appointed to the position in October. Though that earlier appointment was not publicly characterized as a trial period, the structure of the transition bears some resemblance to the current arrangement.
Whether the interim CEO role will evolve into a permanent one remains to be seen. For now, Kosanović is positioned to provide stability as the company navigates both leadership change and business headwinds.
Background and Contract
Kosanović brings more than three decades of experience in the electrical and lighting industries, shaped by 23 years at Schneider Electric and the past eight at Signify. At Schneider, he held senior finance and leadership roles across Asia, Europe, and Latin America, gaining firsthand insight into the operational and cultural dynamics of global energy markets. Since joining Signify in 2017, he’s been closely tied to the company’s financial evolution—first in digital solutions, then as Group Controller, and now as CFO.
Kosanović’s 2025 compensation package as incoming Interim CEO of Signify includes a base salary of €683,220 (≈$736K), with an annual incentive target set at 60% of base salary (€409,932) and a long-term incentive valued at 80% of base (€546,576). He’s required to hold shares worth 200% of his base salary, receives a monthly mobility allowance of €2,630, and is eligible for up to one year’s base salary in severance, subject to board discretion.
A Challenging Moment for the Business
The leadership handover comes as Signify contends with continued financial pressure. The company’s first-quarter 2025 revenue fell to €1.45 billion, its lowest since the early days of the COVID-19 pandemic. Margin pressures persisted, and the OEM segment reported a year-over-year sales decline of more than 10 percent.
Rondolat’s 13-year tenure spanned significant milestones, including the spin-off from Philips, the 2020 acquisition of Cooper Lighting, and the company’s strategic shift to LED and connected lighting. The next CEO will inherit a business at a more uncertain point in its evolution—balancing innovation goals with renewed cost discipline and a changing customer base.
Stability and Continuity
In its public statements, Signify emphasized continuity and confidence. “Željko is well suited to lead the company through this transition period,” said Supervisory Board Chair Gerard van de Aast.
Kosanović may be the stablizing presence for now, but the interim label highlights a bigger question. For a company seeking sustained stability, the decision on a permanent CEO will be one of its most consequential.
