Philips Lighting has announced its intention to change its name to Signify and will submit a proposal to amend the articles of association of Philips Lighting N.V. at the Annual General Meeting of Shareholders on 15 May 2018.

The company will continue to use the Philips brand under the existing licensing agreement with Royal Philips.

Philips Lighting chief executive Eric Rondolat says the new company name originates from the fact that light becomes an intelligent language that connects and conveys meaning.

“We’re excited to announce our new company name as another step in our transformation journey. 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.”

The new company name satisfies the company’s contractual requirements under the Company Name License Agreement with Royal Philips. This requires that it changes less than 18 months after Royal Philips no longer has a controlling interest.