MONEY PRINTER DE LA RUE has appointed experienced finance chief Nick Bray in a non-executive role.
Bray, who has served for the last five years as Sophos’ CFO, will succeed Victoria Jarman as chair of De La Rue’s audit committee.
His appointment comes at a critical juncture for the printer, which is looking to expand its offering around verification and ID systems through bolt-on acquisitions. It is currently contracted to print UK passports.
Its annual results published two weeks ago showed revenues up by 3% to £488.2m, but profits down 47% to £20.8m. De La Rue also sold its cash processing business.
Philip Rogerson, chairman of De La Rue, said: “Nick Bray brings highly relevant experience in the technology and information security industries which will enable him to make an excellent contribution to the Board at an exciting time for the business. I look forward to welcoming Nick to De La Rue.”
Before Sophos, Bray was CFO of Micro Focus International, Fibernet, and Gentia Software.