Ole-Bjørn Gjerde, who has been the chairman of the board at Dale of Norway since 2007, also became the Norwegian knitwear company's general manager last week. This came after the departure of Hans Petter Angell, who was warmly credited for leading Dale's return to growth and profits in the last three years. Angell quit Dale to take up a job in private equity in Bergen. The switch is entirely unrelated to a change of ownership that took place at Dale of Norway last month: Propago Invest, an investment vehicle that acquired the majority of Dale's shares in 2007, entirely bought out the minority shares still held by Winder, a textile company that had previously owned Dale for many years. Hilde Midthjell has been the largest shareholder of Dale since last year, when she stepped into Propago Invest. She has a share of 80 percent in this investment vehicle, while the remaining 20 percent are held equally by Ole-Bjørn Gjerde and Tor Anderson. He worked with Gjerde as an adviser for small and medium-sized companies, and will now take up some responsibilities in marketing at Dale.

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