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Netherlands — USG People's CEO departs after four months in role

29 June 2010

The Supervisory Board of USG People, the world's fourth largest staffing company, has announced that CEO Herman van Campenhout will be leaving the company.

 
The company says in a statement "regrettably, in the past few months it has become apparent to both Herman van Campenhout and USG People that there is a lack of sufficient chemistry between the parties."

"The Supervisory Board and Herman van Campenhout have decided by mutual agreement that it would not be advisable to continue his employment and that Herman van Campenhout will leave the organisation on 30 June 2010."

Mr van Campenhout, who joined USG People as recently as March 2010 from Reed Elsevier PLC described 2009 as "a troubled year" for the Company which, in reaction to market circumstances, reduced costs and began to rationalise brands. His lack of experience in the staffing industry seems to have counted against him. "We thought that an outsider with a fresh view would have a positive impact. But that turned out to be a wrong judgment," said Cees Veerman, chairman of USG People's Supervisory Board.

Rob Zandbergen, currently CFO, will be appointed CEO of USG People with effect from 1 July 2010. Rob Zandbergen has been active in the temporary employment sector since early 2003 and was appointed CFO of USG People following the takeover of Solvus in 2005. Rob Zandbergen has fulfilled the role of acting CEO in the past.

The position of CFO is vacant. Rob Zandbergen will continue to act as CFO on an interim basis.

The Supervisory Board also announces that it plans to transform the two-member Executive Board into a Board of Management consisting of five members. In addition to the persons holding the positions of CEO and CFO, the Supervisory Board intends to appoint Hans Coffeng, Eric de Jong and Albert Jan Jongsma to the Board of Management, who will hold the positions of COO Netherlands and Germany region, COO Southwest and Central Europe region, and Chief Corporate Officer (CCO), respectively.

The two COOs currently hold operational responsibility for the operating companies in their respective regions, while the CCO's responsibilities include Legal, M&A, Corporate Governance, Compliance, HRM and Internal Audit.

USG People's shares fell by -2% to 11.89 Euro in early trading this morning.

 

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