London-listed De La Rue has printed nearly one third of the world’s banknotes in circulation; it is also the world’s biggest commercial printer of passports.
On Monday, passport and Banknote printer De La Rue Plc stated, it has named Clive Vacher as its chief executive officer (CEO). Vacher will replace Martin Sutherland whose departure was announced in May 2019 by the company following a fall in revenues this year.
Last month, De La Rue Plc appointed Kevin Loosemore as its chairman designate who will be replacing Philip Rogerson.
Vacher, an alumnus of Columbia University, MIT, Stanford University, and the London School of Economics was previously the CEO of Dynex Power Inc, where he led the privatization sale of the company in March 2019.
Both appointments come at a time when the company is facing scrutiny from Britain’s Serious Fraud Office following the opening of a criminal investigation in July 2019 over “suspected corruption” in its business in South Sudan.
Currently the company is realigning its operations to focus on two businesses – Currency and Authentication, as each requires a specific set of strategies.
In a statement it said Ruth Euling will lead the Currency business while Andrew Clint will head the its Authentication division.