News: IBN Ibuynew Group says appoints Alex Caraco as CEO

March 22 (Reuters) - Ibuynew Group Ltd (IBN) :

• 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