De La Rue CEO steps down as firm hit by Venezuelan losses

Martin Sutherland – chief executive – De La Rue
Martin Sutherland

The British banknote printer De La Rue reported an £18.1 million ($22.8 million) “exceptional charge” on its annual results due to unpaid bills from the Central Bank of Venezuela, as its chief executive resigned.

In its annual results published today (May 30), the company says the Venezuelan central bank “is currently unable to transfer funds due to non-UK related sanctions”. De La Rue also announced chief executive officer Martin Sutherland is stepping down.

On April 17, the US Treasury added

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