Cavalier promotes CFO Paul Alston to top job

Cavalier Corp, the unprofitable carpet maker, has promoted finance chief Paul Alston to the top job, a role he's had on an acting basis since Colin McKenzie stepped down in May.

Alston joined Cavalier in November 2012 as chief financial officer, having previously been CFO at fruit marketer Turners & Growers.

Cavalier has changed its chief executive and chairman and rejuvenated its board in an attempt to restructure the business and return it back to the black. The company is selling assets, cutting jobs and outsourcing to try and achieve that objective.

The shares rose 1.3 percent to 40.5 cents, having dropped 34 percent so far this year.

BusinessDesk.co.nz

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