Exit: De La Rue’s chief technology officer Selva Selvaratnam
The management exodus at troubled De La Rue has continued, with another top executive heading for the exit.
The departure of Selva Selvaratnam, the banknote printer’s chief technology officer, means four senior members of staff have left in the space of a few months.
De La Rue was already looking for a chairman, chief executive and senior independent director.
The firm has come under pressure from activist investor Crystal Amber to boost profits and cut excessive bonuses.
It lost the contract to print Britain’s post-Brexit blue passports in May last year.
This May it warned profits will be lower than hoped and chief executive Martin Sutherland said he will stand down when a successor is found.
On July 23, the Serious Fraud Office revealed it had launched a probe into De La Rue over suspected corruption in South Sudan.