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USG People CEO to Leave After 4 Months

USG People CEO to Leave After 4 Months

Dutch staffing company USG People NV said that its chief executive, Herman van Campenhout, will leave the company after only four months in the job. USG People said in a statement that Van Campenhout will leave the company by the end of this month because of 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," the company said in a statement.

The surprise announcement came less than four months after the appointment of Van Campenhout, who previously had an executive role at Anglo-Dutch publishing group Reed Elsevier PLC. "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. Van Campenhout wasn't available for comment. He will be replaced by Rob Zandbergen, USG People's chief financial officer. Zandbergen will act as interim CFO until the company has found a new financial chief, USG People said. The management shakeup comes as USG People, which generates the bulk of its revenue in more late-cyclical markets and segments, is suffering from the aftermath of the economic downturn. In the first quarter, the company recorded a 9% drop in revenue compared to a year ago. It also abstained from giving an outlook for the rest of the year, saying it is too early to talk about a substantial recovery in the Netherlands, USG People's key market.

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