All change at Adecco

Bosses step aside

Adecco’s decision to part company with both its chairman and its chief executive could boost investor confidence, analysts have claimed.

Chief executive Jerome Caille (pictured) and chairman Philippe Foriel-Destezet stepped down last week after a turbulent period for the world’s largest staffing company.

Shareholder and former co-chairman Klaus Jacobs has taken over as interim chief executive and chairman.

German-born billionaire Jacobs also plans to buy more shares in the company, increasing his family’s stake in the firm to 22.9%.

Jacobs’ decision to increase his stake in the company is likely to increase investor confidence, said analyst Chris Burger at investment bank Helvea.

Caille and Foriel-Destezet took over after previous chairman John Bowmer quit in June last year, following a botched set of results that auditor Ernst and Young refused to endorse.

Third-quarter results this year showed the company was still failing to meet market expectations.

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