Cavalier CEO steps down from role

WOOL and carpet company Cavalier Corporation has announced the resignation of its chief executive just days after receiving a significant government grant.

The company’s board yesterday announced it had ‘‘regretfully accepted’’ Paul Alston’s resignation as its head after six years in the job.

On Monday, Cavalier announced its subsidiary Bremworth had received $1.9 million from the Sustainable Food and Fibre Futures fund to go towards the company’s $4.9 million strategy of moving away from synthetics to only producing woollen carpets.

Mr Alston joined the company as chief financial officer in 2012 and has served as chief executive since May 2015.

In his time, he oversaw a restructure of the business, as well as the development of its allwool and natural fibres strategy.

Cavalier chairman George Adams said Mr Alston had been a highly respected chief executive.

‘‘The company now has zero debt, a strong and experienced leadership team and the financial resources to execute our new strategy which positions Bremworth as a global leader in designing and creating desirable, high performing, safe and sustainable interior products.’’

Mr Alston said it had been a privilege to lead the company.

‘‘I am particularly proud of what the Cavalier team has accomplished during challenging times, and the development of a new strategy that will see Cavalier lead the way in sustainability in the carpet sector,’’ he said.

It was the right to time to hand over the reins, as the firm was wellpositioned to implement its fiveyear strategy, he said.

He will stay on while the board commences a formal process to appoint a new chief executive.