Cashmere yarn spinner Todd & Duncan Limited has promoted finance director Iain Cormack to the newly created role of deputy managing director with immediate effect.
Cormack, who has been working at Todd & Duncan for five years, will retain his finance director responsibilities. The company did not specify what his additional responsibilities would be by the time of publication.
Ian McGrattan, managing director of Todd & Duncan, said: “Iain has made a strong contribution to the Todd & Duncan business in recent years. Whilst retaining his existing responsibilities as finance director he will make valuable input to future strategy.”
Todd & Duncan was sold to Chinese supplier Ningxia Zhongyin Cashmere Company in 2009 by cashmere manufacturer Dawson International.
Before he joined Todd & Duncan, Cormack worked for industrial metalworkers Bermo Scotland Limited as financial controller and an audit manager with Scott Oswald.