The chief executive of Johnstons of Elgin, Simon Cotton, has announced that he has stepped down from his role.
Mr Cotton, who has led the luxury Scottish cashmere manufacturer, for the past eight years, said he made the decision to pursue new opportunities.
In a statement he said: “Working with such an amazing bunch of people, on such varied and beautiful product, has been a true privilege.
“As I plan the next stages in my personal journey, I am tremendously proud of all we achieved together.
“I will always look back on these years extremely fondly and, as the company builds on its success to even greater things, I will look on with great satisfaction.”
Right time to move on
Current group finance director Chris Gaffney has been appointed new chief executive.
Mr Cotton said: “Coming out of the pandemic was the perfect time to review my future and I feel that now, after we have successfully navigated the last two challenging years, it is the perfect time for me to move on to new things.
“The shareholders and I share a love of the company and a belief that Johnstons will continue to prosper thanks to the strong plans in place.
“I leave the business in the very capable hands and will be watching the company’s next steps with excitement and pride.”
Johnstons of Elgin chairwoman Jenny Urquhart paid tribute to Mr Cotton for his leadership skills throughout his tenure.
“Simon‘s strong and thoughtful leadership has steered us through an eight-year period with exceptional success.
“He’s inspired us all and has carried out his job to great effect and he leaves Johnstons with our sincere gratitude and warmest wishes.
“We are in no doubt that we have a strong successor in place with Chris Gaffney who has been a key driving force behind the global growth of the business, both within the Johnstons of Elgin brand and the private label clients and who will allow the business to continue moving forwards,” she said.
Johnstons of Elgin strong history
Mr Gaffney joined Johnstons of Elgin in 2011 and in 2013 was appointed as managing director before taking up the position of head of finance.
He said: “Next year will be Johnston’s of Elgin’s 225th anniversary and I’m honoured to be picking up the helm and excited to be taking the business forward at such a critical time.”
Johnstons of Elgin is now the UK’s largest independent producer of cashmere and fine woollens.
Established in 1797, the Moray firm is one of the last few remaining vertical mills in the UK that still process the raw cashmere and fine woollen fibres right through to the finished product.
It works closely with Mongolian goat herders who supply the cashmere fibre the company uses to make a range of luxury goods such as scarves and jumpers for over 170 years.
The company, which employs around 1,000 people, received the Queen’s Award for Enterprise for Sustainability this year.
It is the fourth award Queen’s Award for the Moray-based manufacturer, having previously landed the honour for export achievement in 1978,1994 and 2002.