April 24, 2025
Signify Set to Announce New CEO Any Day Now
Leadership transition looms as Eric Rondolat steps down after 13 years
For the first time since Signify’s breakaway from Philips nearly a decade ago, the lighting giant is preparing for a change in command. After 13 years as CEO, Eric Rondolat is stepping down. His departure, formally timed “after the Annual General Meeting of shareholders (AGM) to be held on April 25, 2025,” as stated in the company’s January 24, 2025 press release, signals the end of a tenure that spanned LED revolutions, strategic acquisitions, and a long slide in revenue.
Tomorrow’s meeting, April 25, will be more than just routine shareholder fare. It carries the weight of transition. The financial results for Q1 2025 will be released, several key governance votes are scheduled and, most notably, the company may unveil its next CEO.
The Language of Transitions
Signify’s January announcement was cautious in tone but unambiguous in timing: “CEO Eric Rondolat will step down from the company’s Board of Management after the Annual General Meeting of shareholders (AGM) to be held on April 25, 2025.” And yet, in classic corporate fashion, it left the door ajar as to whether the successor would be ready by then. The company assured that the search for a successor was underway, considering “both internal and external candidates.”
In corporate leadership transitions, especially one so carefully choreographed, it's typical to expect a brief overlap — a period of shared reins where the outgoing executive helps acclimate the incoming one. This is especially important in companies as technically complex and globally spread as Signify. A clean break without a transition cushion is rare — and risky.
CFO or CEO? Anything’s Possible
Some have speculated that Željko Kosanović, Signify’s Chief Financial Officer and nominee for the Board of Management, may be the frontrunner among internal candidates to succeed Eric Rondolat as CEO of Signify. His timing, visibility, and seamless rise to the Board of Management all support the theory. But then there’s the fine print. And based on his new contract, which will be voted on tomorrow, it’s far from certain.
While the package is undeniably attractive, it falls short of what one might expect for the top job at the global lighting giant, especially when compared to Rondolat’s previous terms.
| Compensation Element | Eric Rondolat (2024) | Željko Kosanović (2025) |
|---|---|---|
| Annual Base Salary | €985,223 (≈$1.06M) | €683,220 (≈$736K) |
| Annual Incentive (On-Target) | 80% of base salary (€788,178) | 60% of base salary (€409,932) |
| Long-Term Incentive (LTI) | 100% of base salary (€985,223) | 80% of base salary (€546,576) |
| Share Ownership Requirement | 300% of base salary (€2.96M) | 200% of base salary (€1.37M) |
| Car/Mobility Allowance | €3,080/month (€36,960/year) | €2,630/month (€31,560/year) |
| Business Entertainment Allowance | €23,920/year | €6,000/year |
| Severance (max) | 1x Annual Base Salary | Up to 1x Annual Base Salary, discretionary |
| Vacation Days | 25 per year | 25 per year |
At present, this looks like a CFO package — very generous, but maybe not CEO-level for a $6 billion global, publicly-traded company; especially given Rondolat’s larger pay, equity expectations, and strategic prominence over 13 years.
Still, this might not be the final word. If Kosanović is appointed CEO — whether at tomorrow’s Annual General Meeting or soon after — his compensation could be revised upward accordingly. It’s a possibility: approve the appointment first, fine-tune the pay later.
A Pivotal CEO Appointment
This is no ordinary handoff. The incoming CEO, whoever it is, will take charge at a time of high stakes. Revenue has dropped by nearly 20% in two years. The stock slid 25% in 2024 alone and is down 12% so far in 2025. And the competitive landscape is shifting yet again as connected lighting, sustainability mandates, trade wars and digital infrastructure remap the terrain.
The last time Signify changed leadership, it was still called Philips Lighting. It hadn’t spun off. It hadn’t made its big LED bet. It hadn’t taken on Cooper Lighting.
Now, as the company teeters between reinvention and retrenchment, a new CEO will be tasked with defining not just what comes next, but what kind of company Signify wants to be.
The timing of the reveal remains uncertain. It’s possible the new leader will be announced tomorrow, perhaps even presented to shareholders during the Annual General Meeting. But with the careful, conditional tone of the January press release and the conspicuous vagueness in both agenda and contract, the announcement could just as easily come later, after the voting, after the results, after the attention wanes.
For now, Signify’s future remains in suspense, one that will begin to unfold, starting tomorrow.
*NOTE: A previous version of this article mistakenly cited Željko Kosanović as acting CFO. That was incorrect: he has served as CFO since October 2024. We regret the error.
