Mr Fang succeeds Kim Winser (pictured), who has been the Chief Executive of the Hawick-based company since 2000 when the S.C Fang & Sons Company Limited acquired it from Dawson International PLC.
Since that same year, Douglas Fang has served as a Director of Pringle, and he is also a Director of Fang Brothers Investment Limited, an affiliate company of Pringle.
Prior to joining the S.C Fang & Sons Company Limited in 1998, he was an investment banker with Donaldson, Lufkin & Jenrette in New York.
Predecessor Kim Winser has praised the new incumbent, highlighting his already important input into the company. She said: "Douglas is an excellent choice for the role and he has been amazing support to me in the substantial transition of the Pringle brand from the beginning across all elements of the business.
"He came from a strong finance and retail management background from his previous careers in investment banking and retailing. In fact, Pringle was one of the acquisitions Douglas fronted.
"He has always been passionate about the brand and has given substantial energy and commitment to its progress."
She concluded: "I have no doubt that Douglas will continue with the vision for Pringle and take it into the next era with energy confidence."
Commenting on his new role, Douglas said he certainly sees a positive future ahead for Hawick's famous brand: "This is an exciting time for Pringle.
"We have built an outstanding team of senior management who will drive the key growth areas for the company, from the collection fulfilling Pringle's heritage of being a fashion luxury brand, to the appropriate international distribution, expansion into the top fashion and luxury accounts.
"Jean Fang (Chief Operating Officer) and I look forward to working with the team and are confident we will further build on what has been achieved at Pringle and take the brand to its next stage of growth."
The appointment is effective from January 1 2006.