7th Oct 2019 08:40
(Alliance News) - Bank note printer De La Rue PLC said Monday it has appointed Clive Vacher as chief executive officer with immediate effect.
De La Rue, which also provides product authentication services, said Vacher will be replacing Martin Sutherland, who has stood down from the chief executive officer role after five years since 2014.
Vacher most recently was chief executive officer of Canadian high power semiconductor manufacturer Dynex Power Inc, for two years since 2017, until it was acquired by Zhuzhou CRRC Times Electric Co Ltd in March. He also has held senior positions with Pratt & Whitney, Rolls-Royce Holdings PLC, General Dynamics Corp and B/E Aerospace Inc.
"We are delighted that Clive will be joining De La Rue as chief executive officer. His experience of business turnarounds will be invaluable to us as we work to address the challenges we face as a business," said Chair Kevin Loosemore.
De La Rue also reaffirmed that it would continue with its reorganisation into two divisions, Currency and Authentication, to enhance its strategic focus.
The Currency division will be led by Ruth Euling, currently global sales director for Currency, and the Authentication unit by Andrew Clint, global business development director for Product Authentication & Traceability.
Shares in De La Rue were up 4.1% at 233.10 pence on Monday.
By Dayo Laniyan; [email protected]
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