Oldham is to step down from his role as UPM UK & Ireland general manager at the end of the year before taking up his new post in January.

The appointment comes after the API Group decided to split up the Holographics and Foils divisions as part of a strategy to streamline both sections so that they can focus on their different end-user markets.

Stephen Clarke, the previous managing director of the joint foils and holographics division, was appointed managing director of API Holographics in June when it separated from the Foils division.

API Group chief executive said: "It is no doubt a sign of the progress we have made over the last few years in API that we have been able to attract a candidate of Will’s calibre to join our senior team.

"We hope that his experience and competences will prove particularly suited to leading API Foils into a period of strong and sustainable growth."

The £100m-turnover API Group operates 14 facilities worldwide and has over 500 employees.

It recently announced a 123% increase in pre-tax profits to £2.9m in the six months to the end of September.