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Netherlands – USG People cuts board numbers in half

23 October 2013

Dutch recruitment firm USG People (USG: AEX) have announced the departure of two members of staff, reducing the number of its board members from four to two. As a result, the company’s board of directors will consist only of Rob Zandbergen CEO and Leen Geirnaerdt CFO.

As a result of the announcement, Albert Jan Jongsma CCO will depart the company on 1 December 2013 and Eric de Jong COO will leave the company on the 1 November 2013.

Rob Zandbergen commented: “USG People is very grateful to both gentlemen for their many years of service to our company, their dedication and loyalty, and their important contribution to the growth and development of the organisation, also in the past few challenging years.”

This announcement comes shortly after the company reported in September that their other COO Hubert Vanhoe would step down from his position. Mr Zandbergen will assume the responsibilities of Mr Vanhoe and Mr De Jong. While the responsibilities of Mr Jongsma will be assumed by Ms Geirnaerdt.

The implementations of the 2011 strategy redesign has considerably reduced the size and complexity of the company. In April this year USG People sold its General Staffing businesses in Spain, Italy, Austria, Switzerland, Poland, and Luxembourg to Randstad. 

USG People reported fallen revenue of -8% on an organic basis during the second quarter of the year, compared with a year ago. Net income for the second quarter fell by -94%, year-on-year.

Following the announcement, the company’s share price dipped slightly by -0.6% to €8.29, an increase of +48% compared with a year ago. 

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