The executive chairman of Australia-listed confectioner Yowie Group, Wayne Loxton, has resigned “to pursue other business interests and opportunities”.
In a statement to the Australian Securities Exchange, Yowie said Loxton, who has been with the group for four years, will stay on as non-executive chairman until a new chairman is appointed, at which point he will step down.
Yowie said: “Loxton leaves the group in a strong position having provided the leadership and vision during the start-up phase of the business. The group has progressed from an unfunded start-up venture through a successful US market launch and then onto a national roll-out into the biggest consumer market and retailer in the world. This was all achieved through a virtual company operating across multiple time zones and jurisdictions.”
Loxton said: “I move on with confidence that the newly-appointed global leadership team is well-placed to take the group to the next stage of evolution and launch the Yowie brand onto the global statge.”
Yowie, which sold branded confectionery in Australia in the 1990s announced its relaunch in the country last month. The group sells its products in the US and said recently it had received a purchase order from its distribution partner for Australia and New Zealand, Universal Candy.