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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Adecco Group AG    ADEN   CH0012138605

ADECCO GROUP AG

(ADEN)
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THE ADECCO GROUP NAMES CORAM WILLIAMS AS NEXT GROUP CHIEF FINANCIAL OFFICER

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01/17/2020 | 01:05am EST

THE ADECCO GROUP NAMES CORAM WILLIAMS AS NEXT GROUP CHIEF FINANCIAL OFFICER

Zurich, Switzerland, 17 January 2020: The Adecco Group, the world's leading HR solutions company, announces today that it has appointed Coram Williams as the Group's next Chief Financial Officer (CFO), to succeed Hans Ploos van Amstel mid-year.

Mr. Ploos van Amstel joined the Adecco Group as Chief Financial Officer and Member of the Executive Committee in September 2015. He has been instrumental in the transformation of the company, establishing and leading the GrowTogether progamme. Having successfully embedded GrowTogether in the organisation and with its ownership now transferred to the business, Hans has decided this to be the appropriate time to pass the baton to a new CFO, to help shape the next phase of the Adecco Group's strategy. From a very strong field, the Board is pleased to announce the appointment of Coram Williams.

Coram Williams, a British National, has served as Chief Financial Officer (CFO) of Pearson Plc since 2015. From 2013 to 2015, Mr. Williams was CFO of Penguin Random House, a joint venture with Bertelsmann, based in New York. Prior to that he held several senior leadership positions in both finance and operations within the Pearson Group, after starting his business career at Arthur Andersen. Mr. Williams' experience spans Europe, North America, the Middle East and Asia-Pacific. He holds an MBA from London Business School and a BA (Hons) from the University of Oxford.

Commenting on the appointment, Alain Dehaze said, "Coram is an experienced public company CFO with a strong track record in both operational and financial leadership roles within a complex, multi-national company environment. His experience leading both finance transformation and group-wide digital transformation initiatives within the learning sector will be particularly valuable to the Group as we continue to advance our own digital transformation in a changing world of work. Coram shares the Adecco Group management team and Board's commitment to driving customer value creation, candidate success, profitable growth, and shareholder value. I am personally delighted to welcome him as a member of the Group's Executive Committee in mid-2020."

"I am thrilled to be joining the Adecco Group at this exciting time for the company and the future of work," said Coram Williams, "It is a company that combines a powerful purpose, positive culture and strong financial performance. Throughout my career I have worked in markets undergoing significant change; I am looking forward to bringing that experience to bear and building on the great work of Hans to further advance the Group's transformation, harness the significant opportunities ahead to drive profitable growth, and deliver clear value for stakeholders."

Mr. Ploos van Amstel has decided to leave the company as of June 2020 after almost five years of successfully driving the Group's transformation and the Company's Perform, Transform and Innovate agenda. The CFO transition takes place as the Group prepares to conclude its existing strategic cycle in 2020, and launch its next strategic cycle in 2021 with Mr. Williams at the finance helm.

The Board and the Executive Committee are committed to ensuring a smooth and effective transition, enabling Mr. Williams to build on the very strong results that Mr. Ploos van Amstel and the Group's Finance team have achieved, to advance the company's transformation, strengthen its cost structure and portfolio, and position the Group for profitable growth.

Mr. Dehaze continued, "I would like to extend our deep appreciation to Hans for his strong leadership of the global finance organisation and our transformation program GrowTogether, through which we are on track to deliver on our EUR 250 million productivity commitment in 2020. During Hans' tenure as CFO we have successfully improved our cost structure, made important portfolio adjustments to position the Group for continued future success, and rolled out new digital tools and solutions that deliver greater value to our clients. We wish Hans all the very best personally and professionally."

Hans Ploos van Amstel said: "It has been a privilege to work alongside Alain and the management team to drive transformation during this exciting period of evolution at the Adecco Group. Together we have shaped the Perform, Transform, Innovate agenda that will underpin our forward strategy, embedded GrowTogether into the way we work as a company, and invested for the future. The Group today has a distinct strategy and tremendous potential for profitable growth as it cements its leadership position in the evolving world of work."

For further information please contact:

The Adecco Group Investor Relations

investor.relations@adeccogroup.com or +41 (0) 44 878 88 88

The Adecco Group Press Office

media@adeccogroup.com or +41 (0) 44 878 87 87

adeccogroup.com

Facebook: facebook.com/theadeccogroup

Twitter: @AdeccoGroup

Forward-looking statements
Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Adecco Group AG as of the date of this release, and we assume no duty to update any such forward-looking statements. The forward-looking statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Factors that could affect the Company's forward-looking statements include, among other things: global GDP trends and the demand for temporary work; changes in regulation of temporary work; intense competition in the markets in which the Company operates; integration of acquired companies; changes in the Company's ability to attract and retain qualified internal and external personnel or clients; the potential impact of disruptions related to IT; any adverse developments in existing commercial relationships, disputes or legal and tax proceedings.

About the Adecco Group

The Adecco Group is the world's leading HR solutions company. We believe in making the future work for everyone, and every day enable more than 3.5 million careers. We skill, develop and hire talent in 60 countries, enabling organizations everywhere to embrace the future of work. As a Fortune Global 500 company, we lead by example, creating shared value that strengthens economies and builds better societies. Our culture of inclusivity, entrepreneurship and teamwork empowers our 34,000 employees, who voted us number 11 on the Great Place to Work® - World's Best Workplaces 2019 list. The Adecco Group AG is headquartered in Zurich, Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN) and powered by ten global lead brands: Adecco, Adia, Badenoch & Clark, General Assembly, Lee Hecht Harrison, Modis, Pontoon, Spring Professional, Vettery and YOSS.




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Financials (EUR)
Sales 2019 23 424 M
EBIT 2019 1 041 M
Net income 2019 661 M
Debt 2019 898 M
Yield 2019 4,25%
P/E ratio 2019 13,7x
P/E ratio 2020 13,2x
EV / Sales2019 0,41x
EV / Sales2020 0,39x
Capitalization 8 759 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 59,59  €
Last Close Price 53,93  €
Spread / Highest target 30,2%
Spread / Average Target 10,5%
Spread / Lowest Target -25,5%
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Managers
NameTitle
Rolf Hugo Dörig Chairman
Hans Ploos van Amstel Chief Financial Officer
Ralf Weissbeck Group Chief Information Officer
David Norman Prince Independent Non-Executive Director
Alexander Gut Independent Non-Executive Director
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