Philips Lighting has announced its intention to change its name from Philips Lighting to Signify. According to the press release, the new name speaks to the idea “…that light becomes an intelligent language, which connects and conveys meaning.” The release goes on to indicate that the company will continue to use the Philips brand, under the existing licensing agreement with Royal Philips, for its products.
“We’re excited to announce our new company name as another step in our transformation journey,” said Eric Rondolat, CEO of Philips Lighting in the press statement. “Our new company name is a clear expression of our strategic vision and a fabulous opportunity to introduce a new corporate look and feel that is uniquely our own and will serve to further unite our 32,000 employees. At the same time, we remain proud to continue to use the Philips brand on our products.”
Philips Lighting was founded by Frederik and Gerard Philips in 1891 in the Dutch town of Eindhoven. As the press release notes, “The new company name satisfies the company’s contractual requirements under the Company Name License Agreement with Royal Philips, which requires that it changes less than 18 months after Royal Philips no longer has a controlling interest. In view of the renaming of the company, a proposal to amend the articles of association of Philips Lighting N.V. will be submitted to the Annual General Meeting of Shareholders to be held on May 15. The Philips Lighting N.V. stock exchange ticker will remain (Euronext: LIGHT).”
