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Company eschewing synthetics but market may not be large enough for wool.
Carpet manufacturer Cavalier Corporation, which floated in 1984, was once one of New Zealand’s 50 largest public companies. But its woolly proposition in recent years has seen investors scattering like startled
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Cavalier CEO steps down from role
27 Apr, 2021 03:00 AM
2 minutes to read
Paul Alston. File photo / Stuart Munro
Otago Daily Times
By: Riley Kennedy
Wool and carpet company Cavalier Corporation has announced the resignation of its chief executive just days after receiving a significant government grant.
Last Thursday the company s board announced it had regretfully accepted Paul Alston s resignation as its head after six years in the job.
Last 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.
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Stock Takes: Contact, Meridian cleared; Cavalier CEO resigns
22 Apr, 2021 05:30 AM
6 minutes to read
Meridian and Contact have been cleared following an investigation into the spilling of water from their South Island dams. Photo / Grant Bradley
Meridian and Contact have been cleared following an investigation into the spilling of water from their South Island dams. Photo / Grant Bradley
The Electricity Authority said it had found that neither Meridian nor Contact had breached trading provisions following an undesirable trading situation (UTS) complaint made by group of power companies. Haast Energy Trading, Ecotricity, Electric Kiwi, Flick Electric, Oji Fibre, Pulse Energy Alliance and Vocus claimed that a UTS involving the spilling of water from November 2019 through to January 2020.
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Paul Alston says new wool strategy needs fresh energy.
Just days after securing a $1.9 million government grant towards its all-wool carpet strategy, the CEO of Cavalier Corporation, Paul Alston, has had his resignation “regretfully” accepted by his board.
Alston first joined the listed carpet and textiles company as chief financial officer in 2012 and has served as CEO since May 2015. In the last few years he has driven the restructure of the business and the development of its new, all-wool and natural fibres strategy.
Alston told
NBR he’d been contemplating moving on for a while. He’d been speaking to the board about leaving for a few weeks now,
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Cavalier-corporation
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