Window furnishings manufacturer and retailer Kresta Holdings has appointed fomer QBE executive Giuliano Di Bartolomeo as its new chief executive.
Kresta chairman John Molloy said the appointment aligned well with the company’s plans to restructure its operations to bounce back into profitability.
“We are delighted to secure the services of a high calibre, experienced executive such as Mr Di Bartolomeo to lead the Company, and we look forward to his contribution to Kresta’s future growth and success,” Mr Molloy said.
“Mr Di Bartolomeo’s management experience will prove invaluable as we work towards the company’s key objectives of strengthening the management team, improving customer service, ensuring efficient in house core manufacturing, developing strong relationships with our suppliers and continuing to develop Kresta’s strong brands.”
Mr Molloy said interim chief executive and Kresta founder Tass Zorbas would remain with the company in an advisory role.
“On behalf of the Board, I would like to thank Mr Zorbas for his continued contribution to the company, particularly for his service as interim CEO over the past three months,” Mr Molloy said.
Meanwhile, Kresta also announced today that it had completed the sale of its Malaga factory unit for $3.8 million.
The company said $1.8 million of the purchase price would be used to reduce bank debt.
The factory became surplus to the company's requirements after a recent restructuring of its Malaga operations.
