Yowie Group (ASX:YOW) appointed Nicholas Bolton as global chief executive officer, replacing Mark Schuessler, according to a Wednesday filing with the Australian bourse.

The company also appointed John Patton as executive chairman, following the resignation of Sean Taylor.

In the same filing, Yowie Group said it incurred an operational loss of $363,000 in April, bringing the year-to-date losses to $1.72 million. The company is targeting structural changes to achieve annualized ongoing savings of more than $1 million per year, after accounting for the costs of the aforementioned executive changes.

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