Adecco has appointed Jim Fredholm as chief financial officer after twice delaying its 2003 financial results.

Fredholm replaces Felix Weber, who resigned after auditors found problems with Adecco’s accounts in February.

An internal investigation by Adecco found book-keeping errors and an accounting “black hole” of around 40m euros (£27m).

Independent lawyers are still investigating the firm, which is the largest recruitment company in the world.