A week after it was revealed that another of the security printing group’s non-executive director’s, Catherine Ashton, was stepping down, De La Rue said today (19 June) that Rice-Jones did not intend to seek re-election as a director of the company at the 2023 AGM, having reached the end of her initial three-year term.

The Nomination Committee has already initiated a recruitment process for a replacement non-executive director.

Rice-Jones commented: “I have enjoyed working with the board and staff of De La Rue. I have decided not to seek a further term as my other commitments are now demanding more of my time. It is therefore appropriate that the De La Rue board seeks to resource itself with the capacity to support the business.”

Newly-appointed De La Rue chairman Clive Whiley added: “Margaret has made a significant contribution to De La Rue during her time with the company, both as a member of the board and as the senior independent director. We are grateful for everything she has done and wish her well for the future.”

De La Rue also confirmed that its CFO, Rob Harding, whose resignation was announced in January, will be leaving at the expiry of his notice period on 28 July.

De La Rue last month delayed its year-end results, which will now be announced at the end of this month.