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Business News

Musto founder's son quits the helm

The son of the founder of Musto has stepped down as chief executive of the sportswear specialist, for which Zara Phillips is a brand ambassador.

Nigel Musto has been replaced at the helm of the sailing and equestrian clothing supplier by David Adams, former boss of the camera retailer Jessops, who has become executive chairman. Musto's latest accounts show it lost £89,000 in 2011, on turnover of £32.3m. It is thought to have performed better since.