De La Rue (DLAR) has announced the appointment of Kevin Loosemore as its new chairman. Currently heading up struggling software group Micro Focus (MCRO), Mr Loosemore became the banknote printer’s chairman designate on 2 September, replacing current chairman Philip Rogerson upon his retirement on 1 October.
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This follows a failed attempt by activist investor Crystal Amber Fund to expedite Mr Rogerson’s departure and install its preferred candidate. Despite a dramatic build up, the July annual meeting saw 91 per cent of shareholders approve Mr Rogerson’s re-election.