Chairman and chief executive of the point-of-sale finance company ThinkSmart, Ned Montarello, has given up some of his control of the business, which has been working its way out of a slump that has hit earnings over the past couple of years.Yesterday, the company announced that Keith Jones, a seasoned retail executive, would take over as chief executive in February. Montarello will stay on as executive chairman.The company, whose core product is RentSmart, has been adversely affected by weak retail trading conditions. It made a loss of A$1.4 million in the year to December 2012.In May, Montarello flagged management and board renewal at the company. Jones has held senior management positions at Dixons PLC, ThinkSmart's largest UK retail partner.Yesterday's announcement also included profit guidance. The company expects to report a profit of around $2 million for the year to December.