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Saj Shah, Chief executive, Jane Norman, non-executive, Phase Eight

Although Saj Shah began to implement his succession strategy at womenswear chain Jane Norman this year by hiring Sandy Goldsbrough from Ghost as trading director, he still lives and breathes the business.

In the past year Jane Norman has launched a transactional website, which is expected to turn over £20 million in four years, and the retailer has also expanded into Russia.

Although profits were flat over the year to March 29, Jane Norman’s commitment to its product and handwriting has seen it trading better than most this year. But Shah is another executive facing Icelandic-linked difficulties. Investment firm Baugur and bank Kaupthing have shares in the business and Shah is said to be looking at refinancing.

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