Fennell gets Tiffany's money man

Theo Fennell, jeweller to the stars including Sir Elton John and Victoria Beckham, has swung back into the black and hired Tiffany & Co's top UK numbers man as finance director.

Gavin Saunders was UK finance director at Tiffany. His appointment completes the boardroom shake-up. Saunders follows soon after the promotion of former Cartier executive Lady Barbara Snoad to managing director.

Last year, the AIM-listed group successfully launched Strip, a range of rings, earrings and pendants selling at between £250 and £25,000.

This spring it launched the 18-carat gold Whip range, designed to look like the Walnut Whip chocolate.

"Strip went fantastically well. We have already done £1 million in sales since it launched in November. Now we've got high hopes for Whip," said chairman Richard Northcott.

Pre-tax profits for the year to 31 March were £31,407 against losses last year of £1 million. Turnover was £11.8 million against £11 million a year earlier.