Shares in De La Rue were down in morning trading on the FTSE 250 following yesterday's announcement that CEO James Hussey had resigned with immediate effect.
The currency-printing company said that Mr Hussey was stepping down as he felt responsible for "quality and production irregularities" at one of the group's paper production facilities.
De La Rue said that in response to the resignation Nicholas Brookes, Non Executive Chairman had been appointed Executive Chairman while Group Finance Director Colin Child will also serve as Chief Operating Officer. Both men will continue in their new roles until a new CEO is appointed.
The company said that it would continue to look at the problems at its paper production facility and added that it would make a further announcement once it had assessed the financial and operational impact the problems would have on its full year results.
However De La Rue said that due to the complexity of the problems an announcement would probably not be made in the near future, but stressed that the problems related only to testing and did not compromise security.
By 09:40 shares in De La Rue were down 0.77 per cent to 706.00 pence per share.