De La Rue announces new CEO

29th Aug 2014 11:13

De La Rue, the Britain-based printer and papermaker, has announced Martin Sutherland has been appointed as its new chief executive.Sutherland will step down from his current role of managing director at BAE Systems Applied Intelligence, a position which he has occupied since 2008, and he is expected to join De La Rue's board and take up his position no later than 13 October."After an extensive search the Board is delighted to appoint Martin as De La Rue's CEO," said group chairman Philip Rogerson. "He brings strong commercial skills, and wide experience of growing technologically demanding businesses supplying governments and financial institutions worldwide. His track record of strategic leadership will also be of considerable benefit."Once Martin has joined the Company I shall resume my role as non-executive chairman and Colin Child will revert to his group finance director role."During Sutherland's tenure at BAE, revenues have more doubled and the business has grown to employ about 3,000 people across 26 offices worldwide, with over 50% of the revenue now coming from new lines of business in counter fraud, cyber security and communications solutions.De La Rue shares were up 0.49% to 714.00p at 09:10 on Friday.DC