The managing director of BAE Systems’ Cyber arm is to step down at the end of September to become chief executive of banknote printer and passport manufacturer De La Rue.
Martin Sutherland, who joined BAE Systems Applied Intelligence in 2008, brings to end a search by De La Rue for a new chief executive following predecessor Tim Cobold stepping down in February.
Mr Cobbold’s decision to step down from the world’s largest commercial banknote printer and passport manufacturer coincides with the end of De La Rue’s 10-year contract to print British banknotes in April 2015.
It is yet to be confirmed whether 201-year old De La Rue will renew its contract with the bank, but speculation suggests it will be announced in the next six months.
De La Rue chairman Philip Rogerson, who has been acting chief executive since Cobbold’s departure, said Sutherland is a good fit for the role.
“He brings strong commercial skills, and wide experience of growing technologically demanding businesses supplying governments and financial institutions worldwide.
“His track record of strategic leadership will also be of considerable benefit.”
During Sutherland’s tenure, revenues at BAE Systems Applied Intelligence have more than doubled, with the business employing around 3,000 people across 26 locations worldwide.
Kevin Taylor, group strategy director, who is responsible for executive committee oversight of the Applied Intelligence business, will step in as managing director on an interim basis.
Mr Taylor said: “BAE Systems Applied Intelligence has rapidly grown to become a leading provider of cyber, intelligence and digital solutions in recent years. The business has outstanding growth prospects and I look forward to continuing to guide it through the next stage of its strategic development.
