Plus   Neg

De La Rue Appoints Clive Vacher As CEO - Quick Facts

De La Rue plc (DLAR.L) said that it appointed Clive Vacher as Chief Executive Officer and an Executive Director, effective from 7 October 2019. Martin Sutherland stands down as Chief Executive Officer and as a Director of the company.

Previously, Clive was Chief Executive Officer and President of Dynex Power Inc., where he led the privatisation sale of the company in March 2019. He was also a Director and Chief Executive Officer of Dynex Semiconductor Limited to 5 April 2019.

Earlier, he has held senior positions with Pratt and Whitney, Rolls-Royce, General Dynamics Corporation and B/E Aerospace Inc. Clive currently sits on the Advisory Board of the Lincoln International Business School at the University of Lincoln.

De La Rue noted that Andy Stevens, Senior Independent Director, agreed to step down earlier than previously announced, to align with organisational changes. Sabri Challah becomes Senior Independent Director and Maria Da Cunha, Non-executive Director, will succeed Sabri as Chair of the Remuneration Committee.

The company also reaffirmed that it would continue with the proposed reorganisation of the business into two Divisions. The Group's operating model is being realigned to focus on two businesses, Currency and Authentication, each requiring distinct products and solutions, and pursuing different strategic and operational priorities.

The new Divisions will be led by Ruth Euling, Managing Director, Currency (previously Global Sales Director for Currency), and Andrew Clint, Managing Director, Authentication (previously Global Business Development Director PA&T).

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apotex Corp. recalled all lots of type 2 diabetes medication Metformin hydrochloride in the form of oral film-coated tablets for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Groupe Renault plans to cut about 14,600 jobs across the world and lower its production capacity. The plan includes almost 4,600 jobs reduction in France, through voluntary retirement and retraining. Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network.
Follow RTT