Randstad CEO fired

It was announced, Friday, that Randstad CEO, Ben Noteboom, was fired by the Supervisory Board in October 2013. Noteboom received a generous severance payment of € 2.6 million. During the presentation of the annual reports over 2013, the 55-year-old CEO, who has been in charge of Randstad for almost 12 years, stated he was overdue for something new.

With the economy on the rise again, this was the ideal time, according to Noteboom. Just this past Friday, it came out that Noteboom was asked to step down, and that he received a severance pay of 2 years' salary, complemented by some other settlements. The association of stock holders (VEB) questions the extraordinary height of the compensation and thinks it breaches the code of good governance, the so-called Tabaksblat code. 'I wonder why Noteboom was asked to leave because he was doing well,' said Jan-Maarten Slagter of the VEB, who went on to say: 'we are going to ask critical questions during the shareholders meeting.'