Cavalier chief steps down

Cavalier Corporation’s chief executive and managing director, Wayne Chung, is to retire from his executive role. File photo

Cavalier Corporation's chief executive and managing director, Wayne Chung, is to retire from his executive role and be replaced by operations manager Colin McKenzie.

Chung shall remain in the ceo role until March 15, and will remain on the board as a non-executive director, which McKenzie will also join.

McKenzie joined Cavalier Bremworth as general manager of manufacturing in 2003 and has since risen through the ranks becoming group general manager operations in 2005 and chief operating officer in 2008.

Shares in Cavalier have risen 2 per cent to $2.55 since trading opened this morning, showing recovery from a low of $1.90 on Dec 29.