Hunter Murray, the managing director of Forfar mart operator Lawrie & Symington Ltd, is to retire at the end of the week after 38 years with the company.
Mr Murray’s early retirement was confirmed last night by company chairman Brian Dickie.
Based at the company’s Lanark Mart, Mr Murray has been general manager for more than a decade and latterly managing director.
“Hunter will be 60 in March. The directors thank him for his loyal service and wish him all the very best for the future,” said Mr Dickie
He stressed that Mr Murray’s early retirement was in no way linked to recent problems at the Forfar Mart subsidiary. It posted a £1.14 million loss for 2012.
Two members of staff left the Forfar business after Lawrie & Symington carried out an internal investigation which uncovered alleged accounting problems.
Police Scotland has since been called in to investigate.
Mr Dickie said in a report to Lawrie & Symington’s annual meeting that the losses were due to two substantial bad debts.
He said in his report that company records had allegedly been changed to hide the debts from the main board and its auditors.
Mr Dickie added: “Hunter’s retirement is absolutely not related to that, and I want to stress that. His early retirement is by mutual agreement.”
The search would now start for a replacement for Mr Murray.