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HARTSTONE GROUP APPOINTS CHIEF FINANCIAL OFFICER AT ETIENNE AIGNER

 HARTSTONE GROUP APPOINTS CHIEF FINANCIAL OFFICER AT ETIENNE AIGNER
 NEW YORK, March 13 /PRNewswire/ -- The Hartstone Group PLC, an international apparel accessories company, today announced the appointment of Michael P. Cangemi as senior vice president and chief financial officer of its New York-based subsidiary, Etienne Aigner.
 Michael Cangemi, 43, formerly partner and national director at BDO Seidman, joined Etienne Aigner as of March 1. Prior to his post at BDO, Cangemi was a corporate vice president at Phelps Dodge Corporation.
 In his new position as chief financial officer of Etienne Aigner, Cangemi's responsibilities will include all accounting, analysis, cash management, credit and computer operations. He will report to Trevor Brentnall, president of Hartstone's U.S. holding company.
 Commenting on the appointment, Brentnall said, "Michael is a great asset to Etienne Aigner. Since September of 1991, we've appointed several key managers and Michael's appointment is in line with our strategic reorganization plan -- developing the Aigner brand to better meet the needs of its retail customers and the end-consumer.
 "Michael's extensive experience in accounting and information systems will enable Aigner to have a better understanding of the needs and buying patterns of our customers while also addressing our financial reporting and control structure."
 Cangemi is a Certified Public Accountant and a Certified Information Systems Auditor. He was president of the EDP Auditor's Association International. Cangemi is also an active member and officer of many professional organizations such as: FEI, AICPA, Institute of Internal Auditors, the NYS Society of CPA's, and the EDP Auditor's Foundation.
 In addition to his professional memberships, Cangemi is editor of the EDP Auditor Journal, a recognized author of auditing and accounting articles, and is a frequent speaker on various audit and information systems control-related topics at conferences, company meetings, professional organizations and universities.
 Hartstone Holdings, the North American division of the Hartstone Group PLC, designs, sources and distributes women's dress shoes, handbags and small leathergoods through Etienne Aigner, and handbags and small leathergoods through Michael Stevens. Etienne Aigner has 444 employees and its sales for 1991 were approximately $100 million.
 U.K.-based Hartstone Group, an international apparel accessories specialist, is the world's largest distributor of leathergoods and the third largest hosiery manufacturer and distributor in Europe. Hartstone's shares trade on the London Stock Exchange or in the U.S. through a sponsored ADR program at the Bank of New York.
 -0- 3/13/92
 /CONTACT: Trevor Brentnall, president of Hartstone Holdings, U.S.A., 212-246-8660; or Debra Wasser or Janet Shotter of Dewe Rogerson, 212-688-6840, for Hartstone/ CO: Hartstone Group PLC; Etienne Aigner ST: New York IN: TEX SU: PER


GK-OS -- NY011 -- 7690 03/13/92 09:33 EST
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Publication:PR Newswire
Date:Mar 13, 1992
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