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Johnstons of Elgin recruits new boss

Simon Cotton has been appointed chief executive of Scottish cashmere and woollen manufacturer Johnstons of Elgin.

Cotton, who starts his new role next week, previously worked as a divisional managing director at Swiss industrial manufacturing conglomerate Franke.

He will replace group managing director James Dracup, who left in April and is now managing director of MBA Yarns.

Chris Gaffney, who stepped into Dracup’s role on an interim basis, will return to his role as financial director.

Meanwhile, executive director James Sugden has taken a nonexecutive role at Johnstons of Elgin this month, scaling back his responsibilities as part of his progression towards retirement.

The changes come after a “difficult year” according to Gaffney. Johnstons of Elgin made a pre-tax loss of £1.8m in the 2012 calendar year, falling from a profit of £2.6m in 2011.

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