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Dutch staffing firm USG People (USD: AEX) announced that one of the company’s two Chief Operating Officers (COO), Hubert Vanhoe, is to leave the company. Mr Vanhoe has been a member of the Executive Board of USG People N.V. since 2011 having previously been Vice President of USG People in Belgium.
The Dutch staffing market has remained tight during the course of 2013. USG People reported a -8% drop in organic revenue during the second quarter of the year, compared with the same period last year. Net income for the second quarter was -94% below that of a year ago.
The implementation of the 2011 strategy redesign has considerably reduced the size and complexity of the company. The consolidation also resulted in a more manageable number of brands to run.
In the company’s most recent financial results, company CEO Rob Zandbergen said: “The sale of our General Staffing activities in six countries and of USG Energy completes an important transition in the first half of this year. Our organisation is now focused on markets in which we have substantial scale and promising earning potential. We will strengthen our competitive position by refining our position with a simplified management structure.”
As a result, the senior management structure of the company has been simplified and Mr Vanhoe's job has effectively ceased to exist. Mr Vanhoe will remain at the organisation's disposal until 1 October 2013, in order to hand over ongoing projects. Mr Vanhoe's duties will be assumed by company CEO Rob Zandbergen.