Jan Piet Valk the current chief financial officer of Dutch international group Boels Rental is to step down after four years in the job and will become chairman of the group’s supervisory board from the start of September.
Between now and then he will hand over his current responsibilities to René Olsthoorn who will join the company at the end of the month, and formally take over the chief financial officer role as of June. He is currently chief executive of Timber and Building Supplies (TABS) Holland. A role he has held for the past five years, having joined the company as chief financial officer in 2015.
René Olsthoorn
Olsthoorn began his career in 1990 as a project leader with Fokker aircraft, leaving after four and a half years for a similar role at wholesale building materials suppler Svedex. After two years with the company, he was appointed logistics manager at paper and forestry products manufacturer BührmannUbbens and was promoted to finance director in 2004. In 2008 he took a similar job with PaperlinX, but moved on after 11 months when he was appointed chief financial officer at building materials supplier PontMeyer. Finally, he joined TABS Holland in late 2015.
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Speaking of his move Valk said: "I am grateful for the opportunities and trust that I have received from the entire Boels organisation, and particularly Pierre Boels. It is an honour to fulfil my new role in the Supervisory Board in which I can continue to contribute to this incredible company and everyone who is part of it. I am proud and look back with great pleasure on the accomplishments we achieved together in the recent years. I hope to continue contributing to Boels for a long time, but now in a different capacity as chairman."
Jan Piet Valk
Chief executive Pierre Boels added: "Jan Piet has played an important role in the professionalisation and growth of our organisation in recent years. We are grateful for his efforts. Since taking over in 2020, Jan Piet's contributions have included numerous acquisition and integration projects such as the acquisition of Cramo and re-financing projects, including Boels’ first bond placement. As statutory director, he also successfully contributed to the development and implementation of a resilient business model and growth strategy, whilst manoeuvring the company through dynamic circumstances over the past years.”
“I am also looking forward to the arrival of René Olsthoorn as CFO. With his relevant experience and knowledge, there is a stable base for continuation of the growth strategy and the strong financial position of Boels."
See also: New CFO for Boels
Boels was established in 1977 by Pierre Boels senior, with products such as ladders and compressors, opening its first proper yard in Sittard in 1980. It began its expansion outside of the Netherlands with a move into Belgium in 1991 and Germany the following year. Pierre junior, took over as chief executive in 1996. It added its first aerial lifts in 1998 and between 2006 and 2009 expanded into the Czech Republic, Austria, Italy and Slovakia and Poland.
Since 2012 growth has accelerated thanks to several acquisitions, with the latest – Boels Acquires Riwal (the takeover of Riwal) announced two weeks ago taking it to the point where it is the second largest equipment rental company in Europe after Loxam. Boels has grown into one of the largest European rental companies with an annual revenues of over €1.5 billion.
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