Mark Schuessler, Managing Director and Global CEO of Yowie Group, has retired from his roles at the company after seven years of service.
Schuessler joined the company n June 2016 as Chief Operating Officer before being appointed as Managing Director and Global CEO in January 2018.
Sean Taylor, Chair of the Board, said he extends his gratitude to Schuessler for his years of service and commitment he has given to the Board and Yowie in his various roles, in particular for steering the company through the difficult Covid period.
“We wish Mark well in his retirement and thank him for his ongoing support to assist the company.”
Schuessler will continue to be available to assist the company over the coming months, and Taylor said they look forward to announcing the appointment of a replacement CEO in the near future.
The announcement comes after Yowie reported a 10 per cent fall in total sales to $15.6 million versus the previous corresponding period. The company said its Q3 sales were flat versus prior year “as softness in core product was offset by the addition of ANZ seasonal sales”.
“Consumer consumption continues to be negatively impacted by the prevailing economic uncertainty and inflationary pressures and retailers continue to be cautious with promotional and inventory management.”
The company also reported an EBITDA loss of $712,000 compared to a profit of $1 million in the prior year, which Yowie stated was impacted by the lower year on year sales, increased legal fees relating to the Whetstone case, and higher freight and storage costs.
To stay up to date on the latest industry headlines, sign up to the C&I e-newsletter.