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De La Rue slides again as CFO steps down

Helen Willis, who will leave the banknote printer with immediate effect, follows the exit of the company's chairman, CEO and a number of other directors in 2019 as it struggles to revive its fortunes

De La Rue PLC - De La Rue CFO steps down

Another executive has departed troubled banknote printer De La Rue PLC (LON:DLAR) with CFO Helen Willis stepping down with immediate effect.

Her departure follows a carousel of management changes at the firm, which is now run by Clive Vacher, a turnaround expert formerly of Rolls-Royce and who has already warned about its future due to high debts and people going 'cashless'.

READ: Printing money: Is De La Rue's debt crisis part of a wider problem?

 

Willis had been with De la Rue less than two years and adds to the exodus of executives from the banknote group.

Former chief executive Martin Sutherland stepped down in May last year while its chairman, senior independent director and most of its executive team went in the intervening months,

De La Rue shares were down 4.2% at 140p in late-afternoon trading on Friday, 67% lower than its share price this time last year.

Quick facts: De La Rue PLC

Price: 133.8 GBX

LSE:DLAR
Market: LSE
Market Cap: £260.9 m
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