Kresta selects internal CEO

Two months after overcoming a bruising boardroom battle, window furnishings company Kresta Holdings has selcted internal candidate Andrew Tacey as its new chief executive.

Mr Tacey replaces interim chief executive Ian Leijer, who was appointed seven months ago to plug the gap left by the forced exit of long serving chief executive Tass Zorbas.

Mr Zorbas left the company soon after Perth investor Ian Trahar became chairman; Mr Trahar was subsequently ousted from the board two months ago after shareholder Hunter Hall gained the backing of a majority of shareholders..

Mr Tacey is currently the general manager of Curtain Wonderland, a wholly-owned division of Kresta.

Kresta chairman John Molloy said: "Curtain Wonderland has been a real success story for the group, delivering strong growth in earnings since Kresta acquired it in 2006".

"Mr Tacey has an in-depth understanding of our business, and the board believes his successful leadership of Curtain Wonderland will translate into the achievement of similar results for the broader company.

"We are delighted to have such depth of experience within the business that we can promote an internal candidate at this time as we seek to build on our position as the largest window coverings manufacturer in Australasia," Mr Molloy said.

Mr Tacey will relocate from Brisbane to take up his new position. He will commence as CEO on 23 May 2011.

The company said Mr Tacey will not be appointed to the board of directors at this juncture.

Mr Leijer will cease with the company at the completion of his contract on 31 May 2011.

"Ian was brought in on an interim basis to provide the company with the required stability to ensure we had time to seek out and appoint the most suitable candidate to successfully drive the Kresta business forward in the future," Mr Molloy said.

"The board cannot thank Ian enough for the key role he played during the past seven months in ensuring Kresta was 'on course' at all times."