BAE SYSTEMS PLC LONDON (Reuters) - British banknote printer De La Rue (>> De La Rue plc) named one of BAE Systems' (>> BAE Systems plc) managing directors Martin Sutherland as its new chief executive on Friday.
Sutherland, who will start his new role before Oct. 13, joins from BAE System's Applied Intelligence division, where he has been managing director since 2008.
The company, which prints British passports and more than 150 currencies, has been without a CEO since March after Tim Cobbold left to join marketing services company UBM (>> UBM Plc).
Chairman Philip Rogerson said that Sutherland's record of strategic leadership in his previous roles would be of considerable benefit to the company.
"He brings strong commercial skills and wide experience of growing technologically demanding businesses supplying governments and financial institutions worldwide," Rogerson said in a statement.
"His track record of strategic leadership will also be of considerable benefit."
Rogerson, who has shared CEO duties with finance chief Colin Child since Cobbold's departure, will resume his role as chairman once Sutherland joins the company. Child will also revert to his previous role.
(Story refiled to clarify Sutherland's position at BAE in first paragraph)
(Reporting by Li-mei Hoang; Editing by David Goodman)
