Willis had been with the business for a relatively short period of time. She joined the security printer as interim CFO in April 2018 after previous CFO Jitesh Sodha left, and became its permanent CFO and member of the board in July 2018.

In a brief statement today, De La Rue said both parties had agreed that she would step down “with immediate effect” and it had begun the process to find a successor.

“The board acknowledges and is grateful for the commitment Helen has given to the company and wishes her well for the future,” the statement said.

It’s the latest high-level departure in a turbulent period for the business, which issued a series of profit warnings after losing the huge UK passport contract. The group brought in turnaround specialist Clive Vacher as its new CEO last October, but went on to warn that it could breach its banking covenants a month later.

Shares in De La Rue slipped from 146.2p to 138p following the announcement (52-week high: 466p, low: 121p).