AMSTERDAM, Reuters – The theme of labour market shortages “for many years” will continue to be a main focus for Randstad’s chief executive. He announced that he would be stepping down as CEO in March following eight years at the position.

“The major theme is the scarcity of labour markets,” declared Jacques van den Broek. After two terms, Sander van ’t Noordende will replace him. Sander van ’t Noordende (an Accenture (NYSE):) executive, joined Randstad’s supervision board six months back.

Van den Broek stated that “we do believe that scarcity will be structural.” He also said that the reason for market shortages was largely due to demographics, with fewer people entering and older workers leaving the workforce.

He stated, “This is going be the theme of years to come.” There are many jobs in high demand in the areas of healthcare, education and technology, as well as logistics.

Van den Broek spoke out about his resignation, saying: “It is very much my decision but it was also discussed with members of our supervision board.”

Van ‘t Nordende was his successor and gained wide recognition for being Accenture’s chief executive group for products. He stood up for equal rights for LGBTQ+ employees.

Randstad shares increased 3.7% to 62.24 euro in Amsterdam.

Randstad’s earnings before interest and taxation increased 50% to 298million euros ($347m), which is slightly higher than the consensus estimate of 280million euros.

The third quarter’s revenue rose by 21% to 6.28 Billion Euros, up from 6.18 Billion.

Van den Broek declared that “the company is in excellent shape.” Our strategy works. This is also the moment to bring in a successor. This must be done in calm waters.

($1 = 0.8583 euros)