Hartley resigns from Dawson

Chief executive of Scottish cashmere group Dawson International, Mike Hartley, has resigned from his post. He named chief operating officer Andy Bartmess as his successor. Bartmess was previously head of the company's US business. A Harvard Business School alumnus, he has also worked for Deloitte and IBM. "Now we have got a good stable future," Hartley told The Scotsman. "So for the past 18 months we have been looking at developing a smooth transition going forward. When Andy Bartmess came in - that is the succession plan I have in mind." However, Hartley has no plans to retire. He said he was "still very busy".

Having issued an operating profits warning this year - partly due to the high cost of raw materials and a drop in Scottish knitters - the group also announced the departure of deputy chairman Giovanni Ghione, effectively immediately. As a member of the International Fashion shareholder group which has a 12.6 percent stake in Dawson, he joined the board of the troubled company in 2002. "It is not considered good corporate governance to have major shareholders on the board," said Hartley. "Ghione has been very supportive over a difficult period, but now is the appropriate time for him to leave." Nevertheless, thumbing his nose at good corporate governance over another issue, Hartley will not split the roles of chief executive and chairman. Dawson posted profits of £2.9 million for 2005.