RPT-De La Rue CEO Tim Cobbold quits to join UBM

Tue Feb 25, 2014 2:38am EST

LONDON Feb 25 (Reuters) - The chief executive of British banknote printer De La Rue Tim Cobbold has resigned to join marketing services company UBM in the same role, the firms said on Tuesday.

De La Rue said Cobbold, CEO since 2011, will leave the firm on March 29.

It said Philip Rogerson, non-executive chairman, will be appointed to executive chairman until a new CEO joins the board.

Finance Director Colin Child will be appointed chief operating officer on a similar temporary basis.

Rogerson said Cobbold would leave De La Rue with strong forward momentum underpinned by a good R&D pipeline and order book.

Cobbold will start at UBM on May 6.

UBM said in September that David Levin intended to step down as CEO.

He will depart on March 1 and in the period before Cobbold starts Helen Alexander, the firm's chairman, will be executive chairman.

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