Jan 24 (Reuters) - Signify, the world's

biggest maker of lights, on Friday reported a nearly 10% drop in

its 2024 core profit and said CEO Eric Rondolat would step down

after the annual general meeting in April.

The abrupt leadership change and falling profits could shake

investor confidence in the already underperforming company as it

braces for the impact of U.S. President Donald Trump's tariffs.

Signify has much of its production in China.

Rondolat, 58, who oversaw Signify's 2016 spin-off from

Philips, had been appointed for a new four-year term

last year. The company gave no reason for his decision to step

down.

The Dutch group said the board would consider both internal

and external candidates as it seeks a successor for him.

Signify'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 in a company-provided consensus.

It reported an adjusted EBITA margin of 9.9%, slightly lower

than its forecast for the low end of a 10% to 10.5% range.

But the company said its gross margin was strong as price

pressure in some markets was compensated by cost saving measures

that included laying off 1,000 people by the end of last year.

Signify said it would increase its cash dividend to 1.56

euros per share for 2024, from 1.55 euros paid for the prior

year.

It also unveiled a share repurchase programme of up to 150

million euros starting from the first quarter, and said it

planned to buy back between 350 million and 450 million euros

worth of shares by the end of 2027.

The company expects its comparable sales to grow in a low

single-digit percentage in 2025, with a stable EBITA margin

compared to last year's.

($1 = 0.9568 euros)