Cavalier Corporation's chief executive and managing director, Wayne Chung, is set to retire from his executive role at the company, while operations manager Colin McKenzie has been tapped to take on the lead role.

Cavalier announced the forthcoming changes in its website on Monday.

"Mr. Chung has been responsible for a number of significant initiatives during his eight years as CEO and MD and the Board takes this opportunity to acknowledge Mr Chung's contribution and to thank him for his leadership and dedication to the company," Cavalier Chairman Alan James said in a statement.

Chung shall remain as CEO until March 15, after which he will remain on the board as a non-executive director.

McKenzie, who will also sit on the board, 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.

"Mr. McKenzie's appointment as Chief Executive Officer has been the result of a robust succession programme aimed at developing high-calibre executives for key roles within the company and will enable the company to continue to pursue and develop, in a coordinated and measured manner, the strategies formulated when Mr. Chung was CEO and MD," Mr. James continued.

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