- Push-out Score determined
- After about five years in the position
- Praise and thanks for Sutherland
- Search for a successor
- Sutherland said 78 words
(exechange) — Basingstoke, United Kingdom, May 30, 2019 — Martin Sutherland, chief executive of De La Rue, leaves. As announced by De La Rue Plc in a regulatory filing published on Thursday, May 30, 2019, Martin Sutherland leaves his post as Chief Executive Officer at the banknote and passport-maker after about five years in the role.
The Board has commenced a process to identify Martin Sutherland’s successor and Sutherland has agreed that he will continue to serve as CEO until his successor is in place in order to assist an orderly succession.
“Move to the next phase”
A reason for Martin Sutherland’s departure from the CEO post was not explicitly provided. De La Rue said: “The Company is now well positioned to move to the next phase of this journey.”
Precise information regarding Martin Sutherland’s future plans was not immediately available.
De La Rue said: “Martin Sutherland has agreed with the Board of the Company that he will step down as Chief Executive Officer (CEO) and as a Director of the Company.”
Share price decline
The announcement follows a decline in De La Rue plc’s share price of 31 percent since November 2017.
Chaired by Philip Rogerson
De La Rue plc is chaired by Philip Rogerson.
He was appointed to the Board on March 1, 2012 and became Chairman on July 26, 2012.
In the position of CEO since 2014
Martin Sutherland was appointed as Chief Executive Officer on October 13, 2014.
He was previously managing director of BAE Systems Applied Intelligence (formerly Detica).
Sutherland joined Detica in 1996 and has developed considerable understanding and experience of working with government customers around the world.
Prior to Detica, Sutherland worked for Andersen Consulting (now Accenture) and British Telecom.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to De La Rue and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 22.2019 ($).