Ambitious chocolate firm Yowie Group Limited
(ASX:YOW) has appointed a North American CEO as it continues its roll-out plans across one of the world’s biggest confectionery markets.
The company, which holds the only US patent for a ‘Kinder Surprise’ type chocolate-encapsulated toy in the US, has been undergoing trials in 50 Walmart stores across Texas and 234 convenience stores across the US and Canada.
Yowie has appointed Salvador Alvarez as CEO of Yowie North America Inc. Mr Alvarez has 32 years experience in sales and marketing of pharmaceutical and beverage companies and will work part time with the firm until he winds up his current business activities.
Yowie is working with cash reserves of $3.3 million and remains committed to building a strong sales and distribution network across the US.
Yowie is yet to turn a profit. The company reported a net loss of $6.4 million for the 2014 financial year.
