Leading denim producer Cone Mills Corp on Tuesday revealed president and chief executive, John Bakane, will replace retiring chairman, Dewey Trogdon.

The North Carolina-based company said in a short news release that Trogdon has been chairman for 22 years and will have reached mandatory retirement age by its 2004 annual meeting.

It added he will remain on the board until that meeting and also named Charles Reid its lead director.

Trogdon commented: "Cone Mills is a 112-year-old company. As we change the watch to John, I am comfortable with the direction of the company and confident that Cone will continue to be a vibrant organisation."