London, 29 August 2014: The Board of De La Rue plc is pleased to announce the appointment of Martin Sutherland as the Company's Chief Executive. Martin will take up his position and join the Board as an executive director no later than 13 October 2014.
Martin joins from BAE Systems Applied Intelligence, where he has been Managing Director since its acquisition by BAE Systems in 2008. At BAE Systems Applied Intelligence (formerly Detica), Martin has been responsible for the strategic expansion of the business internationally through both organic growth and a number of acquisitions. During his tenure as MD, revenues have more than doubled and the business today employs around 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.
Martin joined Detica in 1996 and during his career there has developed considerable understanding and experience of working with government customers around the world. He has also been responsible for leveraging intellectual property in the business to launch new software and hardware products in the government and financial services markets.
Prior to Detica, Martin worked for Andersen Consulting (now Accenture) and British Telecom.
Commenting on Martin Sutherland's appointment, Philip Rogerson, De La Rue Chairman said;
"After an extensive search the Board is delighted to appoint Martin as De La Rue's CEO. 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."
For further information:
Group Director of Communications, De La Rue
Tel: +44 (0) 1256 605018
About De La Rue plc:
De La Rue is the world's largest commercial banknote printer and passport manufacturer and is a trusted partner of governments, central banks and commercial organisations around the world.
De La Rue also produces a wide range of other security products, including tax stamps, authentication labels and identity documents and manufactures high speed cash sorting and banknote inspection equipment.
De La Rue's Currency division provides customers with a full range of sophisticated products and services which are available either individually or as a whole. This includes design, production of security components, manufacture of paper and polymer substrates and printing of banknotes.
Within the Solutions division, a similar integrated offering from design to manufacture is available. In addition De La Rue offers a range of specialist services and software solutions including government identity schemes, product authentication systems and cash management processing solutions.
In recent years De La Rue has been involved in the production of over 150 national currencies, and passports or identity systems for over 65 countries.
De La Rue employs approximately 4,000 people worldwide and is listed on the London Stock Exchange.