Hili Ventures subsidiary Harvest Technology plc is changing its CEO George Kakouras, less than a year after appointing him.
Harvest’s board of directors announced the decision in a brief statement to the market on Monday afternoon.
The company’s chief financial officer, Neacail Micallef, will now run the company as CEO on an interim basis. Micallef also serves as CFO of Harvest’s parent company, 1923 Investments, which is in turn owned by Hili Ventures.
Kakouras was appointed Harvest CEO last April. At the time, Harvest said he would be tasked with scaling the company’s business locally and internationally while also driving new product development and pursuing investment opportunities.
The statement did not elaborate on its decision to change leadership.
Kakouras will stay on as managing director of Harvest subsidiary Apcopay Limited, a company spokespersoson confirmed. He will also continue to serve as managing director of Hili Properties, the group’s real estate arm.
Micallef, who has been appointed interim CEO, first joined the Hili group in 2016 as a finance executive. He rose up through the ranks to be appointed 1923 Investments CFO in 2024, overseeing the group’s finance function, monitoring the performance of its subsidiaries, and managing the consolidation of financial statements in line with statutory and corporate requirements.
Harvest Technology incorporates three companies: PTL Ltd, APCO Systems (operator of the ApcoPay brand) and APCO. Together, they provide cybersecurity, automation and payment processing solutions for companies.
The company recorded a bumper 2024 with revenues rising 35 per cent year-on-year, but struggled in the first half of 2025, according to public filings. Revenues fell almost 20 per cent in the first half of last year and the company’s cash reserves were down 30 per cent, with margins for its payment processing business coming under significant pressure.
