The move follows the announcement that David Beeby, who was instrumental in the original buyout of the business from UCB and creation of Innovia in 2004, will be retiring as group chief executive after 10 years.

The business, which produces a range of packaging and label films as well as security films, including polymer banknotes substrates, was acquired by private equity group Arle Capital in April in a €498m (£395m) deal.

According to Innovia, Beeby did not want to commit to overseeing Arle Capital's long-term plans for the business.

Robertshaw will complete his transition to the role at the end of January 2015. Beeby will be retained by the group in an advisory role.

Robertshaw has spent the past eight years as chief executive of Morgan Advanced Materials, a £1bn LSE-listed international manufacturing business. Prior to that he served as chief financial officer of Gartmore Investment Management.

Innovia chairman Malcolm Fallen said: “Today’s announcement marks a significant event in the evolution of Innovia. As we transition the leadership of the group we will lose, following David Beeby’s forthcoming retirement, a first-class chief executive who has been instrumental in building our business into what it is today.

“The business now has a truly global footprint, a proven ability to innovate, and market-leading positions in all of its major market segments.

“At the same time we are delighted to have attracted Mark Robertshaw to join as our new chief executive. With a demonstrable track record in driving growth and performance, Mark also has experience of helping global businesses to enhance technology and differentiate themselves in their markets.”

Innovia employs 1,600 staff across its two divisions, Innovia Films and Innovia Security, and has operations located in the UK, US, Belgium and Australia.