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    RAND   NL0000379121

RANDSTAD N.V.

(RAND)
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Randstad N : randstad announces executive board changes.

10/21/2021 | 04:05am EST

Randstad N.V.

Diemermere 25, Diemen

P.O. Box 12600, NL-1100 AP Amsterdam

press release

Date

21 October 2021

More information Elise Martin-Davies

Telephone

+31 (0)20 569 1732

E-mail

press@randstad.com

randstad announces executive board changes.

  • Jacques van den Broek to step down as CEO at the conclusion of his second term in March 2022.
  • Supervisory Board intends to appoint Sander van 't Noordende as successor, subject to shareholder approval.
  • Henry Schirmer and Chris Heutink proposed to be reappointed to the Executive Board.

Randstad N.V. announces that Jacques van den Broek will step down as CEO and Chair of the Executive Board at the conclusion of his second term in March 2022. The Supervisory Board is pleased to announce its intention to appoint Sander van 't Noordende as his successor.

Jacques van den Broek has been Randstad's CEO and Chair of the Executive Board since 2014, and member of the Executive Board since 2004, and has worked for the business for over 30 years. During his time with the company, Jacques has made a significant contribution to Randstad's growth to become the global leader in HR services. He led the company through its transformation to become a more tech- enabled business with a clear digital strategy, underpinned by a passion for people. The strengthening of Randstad's culture and values over his tenure as CEO is a testament to his leadership.

After a thorough candidate selection process, the Supervisory Board intends to appoint Sander van 't Noordende as the incoming CEO of Randstad. The proposal to appoint him as member of the Executive Board will be put to the shareholders for their approval at an Extraordinary General Meeting (EGM) to be held in December 2021. Subject to shareholder approval, Sander will step down from the Supervisory Board and join the Executive Board in early January 2022. He will assume his responsibilities as CEO and take over from Jacques after the Annual General Meeting (AGM) on 29 March 2022. Sander's remuneration package will be in line with Randstad's remuneration policy.

Sander spent the majority of his career at (NYSE listed) Accenture, a global professional services company with leading capabilities in digital, cloud, security and operations, where he held a number of senior management and executive roles during a successful three decades with the company. During his final years at Accenture he served as the Group Chief Executive of the Products Operating Group. Under his leadership, the Products Operating Group grew from $ 6 billion to $ 12 billion based on a sharp focus on client and industry development as well as strong growth in digital services.

Randstad also announces that the Supervisory Board has recommended the re-appointment of Henry Schirmer as member of the Executive Board and Chief Financial Officer and Chris Heutink as member of the Executive Board. Their reappointments will be put to shareholders for their approval at the AGM to be held on 29 March 2022, when their first and second term respectively expires.

Randstad's Supervisory Board Chair, Wout Dekker, said, "Jacques has provided outstanding leadership to Randstad during his eight years as Chief Executive and he leaves a lasting legacy after more than 34 years of work. During his time with the company, Jacques has been an important part of our success and the expansion of our services around the world. He successfully led Randstad and its clients

through one of the most difficult periods in history during the COVID-19 pandemic and continues to steer the business through macro changes, including labor shortages around the world. He has been instrumental in transforming the company, launching our Enterprise business, digitalizing our services, and driving forward our Tech & Touch strategy, while at the same time strengthening our culture and values. I would like to take this opportunity to thank Jacques, personally and on behalf of the Supervisory Board, for his contribution to Randstad. We wish him every possible success in his future endeavors."

"The Supervisory Board is delighted to propose the appointment of Sander to the role of CEO. He has made a significant impression since joining the Supervisory Board earlier in 2021. Sander brings the right mix of experience and skills to Randstad as we continue to deliver on our ambition to touch the work lives of 500 million people worldwide by 2030."

Jacques van den Broek said, "It has been a tremendous honor to work for this great business for 34 years. I vividly remember stepping into my first branch, being struck by the buzz and thrill of finding jobs for people with the best possible fit for our clients. I am immensely proud to have served two terms as its Chief Executive. We could not have achieved anything in the past eight years without the hard work, dedication and creativity of my colleagues around the world, and I would like to thank them."

"Next to becoming the global world leader in HR services, I am particularly proud of how we as a business responded to the immense challenges of the past two years. We showed great agility to continue delivering for our customers and talent and we proved the enduring resilience and adaptability of our company. Randstad is a great company, with a great future, and I congratulate Sander on his proposed appointment. I look forward to working with him on the transition to CEO next year."

Sander van 't Noordende said, "I am extremely pleased to be nominated as the next CEO of Randstad. I recognize the strategic direction of the company, admire its achievements, and am looking forward to working with the entire Randstad team to continue delivering outstanding service to our clients and talent while creating value for our shareholders and all our stakeholders."

about randstad

Randstad is the global leader in the HR services industry. We support people and organizations in realizing their true potential by combining the power of today's technology with our passion for people. We call it Human Forward. In 2020, we helped nearly two million candidates find a meaningful job with more than 236,000 clients. Furthermore, we trained close to 350,000 people. Randstad is active in 38 markets around the world and has a top-three position in almost half of these. In 2020, Randstad had on average 34,680 corporate employees and generated revenue of € 20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad N.V. is listed on the NYSE Euronext (symbol: RAND.AS). For more information, see www.randstad.com

Jacques van den Broek biography

Jacques van den Broek was born on in 1960 and he is a Dutch national. He joined Randstad in 1988 and was appointed to the Executive Board in 2004. Appointed as CEO and Chair of the Executive Board in 2014. After graduating in law, Jacques van den Broek held a management position with an international trading company until he joined Randstad as a branch manager. Appointments followed as Regional Director in the Netherlands and, subsequently, as Marketing Director Randstad Europe. In 2002, he moved to Capac Inhouse Services as Managing Director, also taking on responsibility for Randstad in Denmark and Switzerland. Jacques is responsible for France, Belgium, Luxembourg, Spain and Portugal as well as Latin America (Brazil, Argentina, Chile and Uruguay). In addition, he is responsible for Business Concept Development. Jacques van den Broek is member of the Supervisory Board of CM.com.

Sander van 't Noordende biography

Sander van 't Noordende was born in 1963 and he is a Dutch national. He holds a degree in Industrial Engineering, specializing in Finance and Marketing, from the Eindhoven University of Technology. He is an experienced executive in the professional services industry, having most recently served as the Global Chief Executive of the Products Operating Group at (NYSE listed) Accenture, a global professional services company with leading capabilities in digital, cloud, security and operations. Under his leadership, the Products Operating Group grew from $ 6 billion to $12 billion based on a sharp focus on client and industry development as well as strong growth in digital services.

Having been a member of Accenture's global management committee for over 13 years Sander van 't Noordende brings extensive experience in leading global businesses, client relationships, technology and talent development. He has worked with clients in many industries including Consumer Goods, Life Sciences, Energy & Utilities, Manufacturing and Financial Services.

Sander is passionate about equality and belonging in the workplace, especially the LGBTI agenda. He has been recognized several times as one of the top 100 global LGBT+ executives. He currently serves on the board of Out & Equal, the world's largest premier LGBT workplace equality organization.

Disclaimer

Randstad Holding NV published this content on 21 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2021 08:03:16 UTC.


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Sales 2021 24 306 M 27 550 M 27 550 M
Net income 2021 710 M 805 M 805 M
Net Debt 2021 235 M 266 M 266 M
P/E ratio 2021 14,0x
Yield 2021 4,05%
Capitalization 10 250 M 11 553 M 11 618 M
EV / Sales 2021 0,43x
EV / Sales 2022 0,40x
Nbr of Employees 40 970
Free-Float 47,3%
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Technical analysis trends RANDSTAD N.V.
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 55,72 €
Average target price 64,52 €
Spread / Average Target 15,8%
EPS Revisions
Managers and Directors
Jacobus Wim van den Broek Chairman-Executive Board & Chief Executive Officer
Henry R. Schirmer CFO & Member-Executive Board
Wout Dekker Chairman-Supervisory Board
Andrew Speer Chief Operating Officer
Frank Franciscus Dorjee Independent Member-Supervisory Board
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