Rob Harding took on the interim role in March, and has now been appointed as CFO and executive director.

De La Rue chairman Kevin Loosemore said that he and the rest of the PLC’s board had been impressed with the “significant impact” Harding had made over the past six months, including the £100m capital raise that was completed over the summer.

"Rob's wide-ranging experience in finance within a number of large professional and financial businesses together with his depth of turnaround experience will be invaluable to us as we execute our plans and re-shape our business to meet both the short-term and long-term challenges we face as a company,” Loosemore said.

Harding previously worked at a number of insurance and finance companies including Co-op Insurance,  Swinton Insurance, Aviva and Standard Life.