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
Facebook has removed four separate networks of accounts, pages and groups for engaging in co-ordinated inauthentic behavior on Facebook and Instagram. These networks originated from Iran and Russia and primarily targeted the US, North Africa and Latin America. These networks often posted on both sides of political issues including topics like US elections, environmental issues, racial tensions. While reporting financial results for the third quarter on Tuesday, Lockheed Martin Corp. (LMT) raised its earnings and net sales guidance for the full-year 2019, and initiated net sales outlook for the full-year 2020. For fiscal 2019, the company now expects earnings of about $21.55 per share, up... Consumer goods giant Procter & Gamble on Tuesday reported a 12 percent increase in profit for the first quarter of fiscal 2020 from last year, driven by an increase in net sales and operating margin. Both revenue and core earnings per share for the quarter beat analysts' estimates. Looking ahead, the company raised its earnings and revenue growth guidance for the full-year 2020.
Follow RTT