Gieves & Hawkes chief executive Steven Walton has left the Savile Row men’s tailoring business.
Walton has moved back to Hong Kong, where Gieves & Hawkes owner and property entrepreneur Christopher Chang is based, citing family commitments and UK tax and residency requirements as the reasons for his departure.
Walton became chief executive in April last year when previous chief executive Mark Henderson was named deputy chairman.
Walton said: “When I arrived in the UK 12 months ago, the board of Gieves & Hawkes was aware my appointment was temporary. I am disappointed, but the timing has been dictated by external factors.”
Walton will remain a director at Gieves & Hawkes, which said it was close to appointing a full-time boss.
Separately, product director Will Forrester has been promoted to brand director. Forrester was responsible for developing the Gieves & Hawkes brand and developing product and supply chain management over the past two years.
Gieves & Hawkes tipped further into the red over the year to December 28, 2008, as pre-tax losses widened to £1.3m. Sales over the period were £17.2m, up from £16.9m the year before.