By  on January 12, 2009

Fred Leighton continues to have flair for the dramatic: Peter Bacanovic has been ousted as president of the 38-year-old vintage jewelry house.

In streamlining company expenditures, Thomas Shull, who was named chief restructuring officer-plan facilitator of the firm last month by theU.S. Bankruptcy Court in Manhattan, eliminatedthe role of president. Sources said Bacanovic, whose contract was up for renewal on Feb. 1, had investors interested in Leighton, but that once Shull stepped in late last month Bacanovic no longer had a say.

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