Signify announces CEO departure, posts 2024 core profit below expectations

(Reuters) – Signify, the world’s biggest maker of lights, on Friday reported a bigger than expected drop in its full-year core profit and said CEO Eric Rondolat would step down after the annual general meeting in April.

The Dutch group’s adjusted earnings before interest, taxes and amortisation (EBITA) fell 9.6% to 606 million euros ($633 million) in 2024, below analysts’ average forecast of 611 million euros seen n a company-provided consensus.

($1 = 0.9568 euros)