Plastic and fibre group Filtrona announced Monday the resignation of its Managing Director of the Coated and Security Products division.

Tony Edwards will step down to pursue opportunities outside the company. He will remain with the group until end of June and his successor will be announced in coming months.

Colin Day, Chief Executive, said: "On behalf of the board and the group management committee, I would like to thank Tony for his dedication and commitment to Filtrona during his 23 year career with the company, of which 10 was as managing director of the Coated and Security Products division.

"He has played an important role in the delivery of Vision 2015 to date, and in the re-focusing of the division on packaging solutions and authentication and identity solutions so as to leverage our capabilities better. We wish him every success in his future endeavours."

Vision 2015 seeks to deliver profitable growth in existing and future markets and technologies. The objective is to gain revenue increases and double-digit adjusted earnings per share rises at constant exchange.

The FTSE 250 company said it was on track to delivering its targeted balanced growth in 2012 and continues to make progress towards the company's strategy Vision 2015.

The company is looking at value-adding acquisitions to facilitate its objectives.

Shares fell 0.80% to 555.50p at 10:53 Monday.

RD

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