Malaga-based window blinds manufacturer Kresta Holdings has scaled back its executive team with three roles being made redundant, while its chairman has taken a big pay cut.
Window coverings manufacturer and retailer Kresta Holdings has reported a $1.4 million loss for the year ended June 30, down from $1.5 million net profit last year.
Kresta Holdings' major shareholder, China-based Aplus, has outlined plans to acquire the Malaga-based company just six months after buying a large interest in the group.
Kresta Holdings chief executive Jules Di Bartolomeo has left the company following a restructure under which the chairman of one of its major shareholders will be appointed as managing director.
Kresta Holdings has appointed Xianfeng Lu and John Murphy to its board, following the resignation of company directors John Molloy, Peter Abery and Kevin Eley.
