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    LIGHT   NL0011821392

SIGNIFY N.V.

(LIGHT)
  Report
Real-time Euronext Amsterdam  -  11:35 2022-12-02 am EST
32.77 EUR   +1.17%
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Signify proposes to appoint Harshavardhan Chitale to Board of Management

09/21/2022 | 02:00am EST

Press Release

September 21, 2022

Signify proposes to appoint Harshavardhan Chitale to Board of Management

Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announces that it proposes to expand its Board of Management with the appointment of Signify’s Digital Solutions division leader, Harshavardhan (Harsh) Chitale.

“Harsh has a deep knowledge of Signify and a proven track record in many different roles,” said Eric Rondolat, CEO. “Under his leadership, we have strengthened our market position in the professional segment and expanded our presence in the high-growth areas of connected and agricultural lighting. Harsh played a crucial role in the acquisition and integration process of Cooper Lighting. His experience and competencies will further strengthen our Board of Management in refining our strategy and driving its execution.”

Harsh Chitale joined Signify in 2015 to lead the company in Greater India and has led the Digital Solutions division (formerly known as Business Group Professional) since 2017. Before joining Signify, Harsh held various management positions with HCL Infosystems, Honeywell and Tata both in India and the USA.

An Indian national, Harsh holds a B. Tech Electrical Engineering degree from the Indian Institute of Technology in Delhi.

The Supervisory Board will propose the appointment of Harsh Chitale to the Board of Management at the Annual General Meeting of Shareholders to be held in May 2023. The proposed appointment will be for a period of four years, and will take the number of Board of Management members to four. Until the AGM vote, Harsh will act as Board of Management observer.

--- END ---

For further information, please contact:

Signify Investor Relations
Thelke Gerdes
+31 6 1801 7131
thelke.gerdes@signify.com

Signify Corporate Communications
Abigail Levene
+31 6 2939 3895
abigail.levene@signify.com

About Signify
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2021 sales of EUR 6.9 billion, we have approximately 37,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in 2020, have been in the Dow Jones Sustainability World Index since our IPO for five consecutive years and were named Industry Leader in 2017, 2018 and 2019. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.

Market Abuse Regulation
This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

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© OMX, source GlobeNewswire - EU Press Releases

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Sales 2022 7 623 M 8 002 M 8 002 M
Net income 2022 545 M 572 M 572 M
Net Debt 2022 1 268 M 1 331 M 1 331 M
P/E ratio 2022 7,63x
Yield 2022 4,72%
Capitalization 4 104 M 4 307 M 4 307 M
EV / Sales 2022 0,70x
EV / Sales 2023 0,64x
Nbr of Employees 34 273
Free-Float 91,4%
Chart SIGNIFY N.V.
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Technical analysis trends SIGNIFY N.V.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 32,77 €
Average target price 43,92 €
Spread / Average Target 34,0%
EPS Revisions
Managers and Directors
╔ric Rondolat Chief Executive Officer
Francisco Javier van Engelen Sousa Chief Financial Officer
Arthur P. M. van der Poel Chairman-Supervisory Board
Tony Thomas Chief Digital & Information Officer
Rita S. Lane Member-Supervisory Board
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