(Alliance News) - De La Rue PLC said Monday it has appointed Micro Focus International PLC Executive Chair Kevin Loosemore as non-executive chair designate with immediate effect.
Micro Focus is a FTSE 100-listed enterprise software developer, while De La Rue provides security services for the financial sector, including protection against banknote counterfeiting and authentication of products.
Loosemore will be replacing Philip Rogerson at De La Rue as chair with effect on October 1. Rogerson has been in the role for seven years since 2012.
Loosemore will be stepping down as chair at software firm IRIS Software Group to free up time, but will remain as executive chair of Micro Focus.
Loosemore has been chair at Micro Focus for 14 years since 2005, with the first six years to 2011 on a non-executive basis, and the remaining period as executive chair.
Micro Focus also said Darren Roos will step down as non-executive director, effective immediately.
Roos was part of Micro Focus for two years since 2017, representing Hewlett Packard Enterprise Co on the Micro Focus board, following Micro Focus's acquisition of the HPE software business.
However, the period for HPE to appoint directors has expired, Micro Focus said.
"Philip has provided strong leadership to the board during the past seven years. As chairman, he has overseen considerable strategic change within the company and has steered it through a number of successes and challenges," said Andy Stevens, senior independent director at De La Rue.
"The other members of the board and I are delighted that Kevin has agreed to succeed Philip. De La Rue will benefit enormously from his experience," Stevens added.
Shares in Micro Focus were up 1.1% at 1,120.80 pence in London on Monday morning, while De La Rue shares were down 0.6% at 212.62p.
De La Rue (DLAR)