Fred Hsu, the ex-managing director of Firmin & Sons - Birmingham's oldest company - is likely to stay with the business.
Mr Hsu's position - along with the jobs of 61 employees - had been in question since the 329-year-old badge and armour manufacturer went into administration last month.
But, with Firmin's sale to uniform-maker Kashket & Partners now formally completed, it appeared both employees and Mr Hsu would stay on.
"It has not yet been formally agreed, but it is likely that I will stay on as an ambassador dealing with customer liaison and developing overseas business," Mr Hsu said.
London-based Kashket, which specialises in military and other ceremonial uniforms, has bought Firmin and its site in Newtown Row for an undisclosed sum.
The deal will see Kashket's group managing director Tim Newnes replace Mr Hsu on the board. Russell Kashket, owner of Kashket, will also join the management team.
The combined group will hold six royal warrants and aims to become a "top-to-toe solution" for customers buying ceremonial uniforms.
"Saving all of the jobs at Firmin was our main priority," Mr Hsu said. "It is very much business as usual."
Mr Hsu confirmed that all workers would maintain their current working hours and holiday entitlement.
He also hinted that Kashket may extend production at the Birmingham factory to include garment manufacturing.
Firmin has blamed its administration on a £2 million deficit in its pension fund and said it fell foul of new accounting rules which put pressure on cashflow.
Administrator Nigel Price has also confirmed that the company's final salary pension scheme - closed in 2001 - was in the hands of the pensions regulator.
However, he added that he was delighted the traditional skills of Firmin's workforce had been saved.
He said: "The preservation of the Firmin trade in Birmingham will also continue to generate turnover for several local suppliers.
"Obviously, some of those suppliers have potential debts due to them by Firmin but at least they should now have the opportunity to secure future business from the new owners." Mr Hsu said the vast majority of suppliers had been pragmatic.
"There is a tremendous goodwill towards Firmin as a major customer in the region. I am not aware that the company's administration had any adverse financial impact on its suppliers.
"In many cases it has actually brought them closer to Firmin. We have spent a lot of time discussing the situation with them."
Mr Newnes said he was pleased to included Firmin within the Kashket group.