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BRIEF-Ibuynew Group says appoints Alex Caraco as CEO

Published 22/03/2017, 08:43 am
© Reuters.  BRIEF-Ibuynew Group says appoints Alex Caraco as CEO
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March 22 (Reuters) -

Ibuynew Group Ltd IBN.AX :

* Mark mendel rotates from ceo role to new position as head of strategy

* Alex caraco appointed as ceo

* Cost reduction plan initiated, expected to deliver c.$700k annualised net saving from 1-jul-17

* Illustrative sales scenario of 240 units, and planned reduction in overhead costs, would result in ebitda breakeven in fy 2018

* Andrew jensen will transition from executive director to non-executive director

Source text for Eikon: ID:nASX21Q0g8

Further company coverage: IBN.AX

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