What does Philips Lighting’s name-change Signify?
March 18, 2018 - Philips Lighting announced it is changing its name from Philips Lighting to Signify, saying the new name “originates from the fact that light becomes an intelligent language, which connects and conveys meaning”.
That, plus the fact the new company name satisfies the company’s contractual requirements under the Company Name License Agreement with Royal Philips, reports the company, which requires a name-change less than 18 months after Royal Philips no longer has a controlling interest.
“We’re excited to announce our new company name as another step in our transformation journey,” said Eric Rondolat, CEO of Philips Lighting. “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.”
The company, however, will continue to use the Philips brand, under the existing licensing agreement with Royal Philips.
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