Investing.com -- Shares of Signify (AS:LIGHT) traded higher on Friday following the announcement that CEO Eric Rondolat will step down after the company’s Annual General Meeting (AGM) on April 25.
The Eindhoven-based global leader in lighting confirmed in a statement that Rondolat will leave his role as chief executive and chair of the board of management, positions he has held since the company’s listing on Euronext (EPA:ENX) Amsterdam in May 2016.
Rondolat first joined the lighting business in 2012 as Executive Vice President and CEO for Lighting at Philips, continuing to lead the division when it transitioned into Signify.
Under his leadership, the company navigated its separation from Philips, went public, and established itself as a prominent player in the global lighting market.
The decision for Rondolat to step down was described as a mutual agreement between the CEO and the supervisory board, with both sides deeming this the appropriate time for a leadership change.
The supervisory board has announced it will begin the process of identifying a successor, considering both internal and external candidates for the role.
Signify’s statement provided no additional details about the reasons behind the timing of Rondolat’s departure or potential candidates for his replacement.
Eric Rondolat will remain in his position until the 2025 AGM, ensuring continuity while the supervisory board conducts the search for a new leader.