Randstad’s Executive Board and Supervisory Board announced that its founder, F.J.D. (Frits) Goldschmeding, passed away peacefully on Friday 26 July at the age of 90.

Sander van ’t Noordende, CEO of Randstad, said in a press release, “With Frits’ passing we lose a great visionary and a wonderful, inspirational personality. Frits founded Randstad on strong community values and his legacy continues to live through all of us. His impact on our industry and contribution to the advancement of flexible work and HR services more broadly can be seen across the world. He will be dearly missed by those who had the honor of getting to know him and working alongside him. This is a very sad day for Randstad and we continue to keep Frits’ family in our thoughts.”

Goldschmeding founded Randstad in 1960 after writing a thesis on temporary work as part of his master’s degree in economics.

As detailed in SIA’s History of the Staffing Industry report, Goldschmeding subsequently started his own temporary services agency with his friend Gerrit Daleboudt, known as Uitzendbureau Amstelveen, having conceived the idea while the two were cycling home. The company was renamed Randstad in 1964 after the densely populated region in the western Netherlands.

Goldschmeding held the CEO position at Randstad for 38 years, growing the company and actively lobbying to improve the image of the staffing industry as well as strengthen the legal position of temporary employees. He joined the Supervisory Board of Randstad in 1999 and retired from that position in 2011.

Goldschmeding was also the honorary chairman of ABU, the Dutch industry association for private employment agencies, after serving on its board for many years.

In its memoriam, Randstad included a quote by Goldschmeding, “Working hard, doing what you do best and doing your utmost to be the best.”

In 1985 Goldschmeding received the Royal Decoration Officer in the Order of Orange Nassau. At the 35th anniversary of the Randstad Group he was also appointed Knight in the Order of the Dutch Lion. In 1994 he received an honorary doctorate from the University of Rochester in recognition of the contribution Randstad had delivered to the Dutch economy and society. Because of its contribution to socioeconomic developments in Belgium, he was appointed Commander in the Order of Leopold II in 1999.

Moreover, he received an honorary doctorate from the Nyenrode Business University in 2006. From 2007 to 2009, he held the position of professor. J. Postma Chair for Entrepreneurship at the Nyenrode Business University. 

According to Quote Magazine, Goldschmeding leaves an estimated fortune of €6 billion, much of which relates to his shareholding of almost one third of Randstad through his private holding company Randstad Beheer. His third wife, Petra de Vos, plays a leading role in Randstad Beheer and, in 2008, Goldschmeding also gave his three daughters 10% of Randstad Beheer each. The daughters’ shares have profit rights, but no voting rights. The transaction became part of an investigation over taxes which subsequently saw the Dutch Supreme Court rule in Goldschmeding’s favour.

To reassure investors today, Randstad emphasised that “Frits Goldschmeding has created a future-proof structure that does not depend on the life and involvement of individuals and that will continue beyond his life,” the company stated. “The supporting governance and boards of directors within this structure has been active for years now and as such, is fully prepared for the period post Frits Goldschmeding’s involvement.”

According to its articles of association, the purpose of Randstad Beheer is to participate in Randstad and safeguard the interests of Randstad and its business, among others by promoting the continuity of Randstad and the sustainable success of its business. This is in line with the modus operandi that has been followed over the past decades.

The long-term involvement of Randstad Beheer is reflected by its right to nominate one seat on Randstad’s Supervisory Board, provided Randstad Beheer holds a stake in Randstad N.V. of at least 25%. Randstad Beheer has confirmed that it intends to maintain its more than 30% shareholding in Randstad N.V. and has signed a continuity agreement.

Goldschmeding will be remembered for his philanthropic work as much as for his impact on the global staffing industry. In 2015 he established the Goldschmeding Foundation, which is dedicated to improving the way people work and cooperate. The Goldschmeding Foundation supports promising initiatives with demonstrable societal impact focused on a humane economy, sustainable work and an inclusive labour market.

Randstad ranks as the largest staffing firm globally according to SIA’s Largest Staffing Firms Globally report 2023.