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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/tim-cobbold-is-de-la-rues-new-boss.jpg"><img class="alignnone size-full" title="Banknote printer De La Rue will have a new chief executive from next month" src="http://londonglossy.com/wp-content/uploads/2010/12/min-tim-cobbold-is-de-la-rues-new-boss.jpg" alt="Banknote printer De La Rue will have a new chief executive from next month"/></a></p>
<p>Banknote printer De La Rue will have a new chief executive from next month as it looks to recover from one of the toughest periods in its history.</p>
<p>De La Rue has rubber-stamped the appointment of Tim Cobbold and said his 20 years of management experience in the manufacturing sector would be invaluable following recent production difficulties.</p>
<p>Mr Cobbold has spent the last three years at secure power firm Chloride, which was recently taken over by America&#8217;s Emerson Electric. He will start his new job on January 1.</p>
<p>Shares in De La Rue, which prints notes for the Bank of England and more than 150 national currencies, have slumped by a third following production woes in July with one of its biggest clients, believed to be the Indian Government.</p>
<p>The troubles claimed the scalp of former chief executive James Hussey and has cost the group £35 million. The world&#8217;s biggest banknote printer has said volumes are set to drop 20% in this financial year after it suspended shipments of the affected banknote for two months.</p>
<p>It claimed some employees falsified paper specification test certificates at a plant in Overton, Hampshire.</p>
<p>De La Rue is also a takeover target after it last week rejected a potential offer, reportedly worth around £750 million from French rival Oberthur Technologies.</p>
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