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$20.4b Adecco Appoints Compliance, Ethics Officer

Compliance Week | September 14, 2004

Swiss-based Adecco, the world’s largest employment agency, recently announced that it had created the position of compliance and business ethics officer. The position will be filled by the company's acting group general counsel, Tundé Johnson.

According to the company, the role will report to Adecco's board of directors, and will assume responsibility for the "further development of the group's internal compliance procedures, other systems development, and the business culture more widely."



Johnson

Johnson's appointment came the same day that the company announced that an investigation into alleged accounting irregularities had been completed. Last year, Adecco was hit by an accounting scandal that resulted in the resignation of several senior executives, a clean sweep of its board of directors, a grand jury subpoena, and investigations by the SEC and the Swiss Federal Banking Commission.

According to the company, the investigation—which had been commissioned by Adecco's audit committee—has been completed "and did not find anything financially material to the Adecco Group."

Adecco noted that it is working to strengthen its internal controls, and had created the chief compliance and business ethics officer position to strengthen standards and "to oversee worldwide compliance practices and business ethics within the group reporting to the Board."

Johnson, who will fill the position immediately, has been with Adecco in a variety of roles since 1996. A former senior vice president of internal corporate affairs, Johnson most recently served as acting group general counsel.

Previously, he was corporate counsel and HR manager with Manpower, Inc., which is the second-largest provider of temporary employees, behind Adecco.

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