SPAR Group Inc (NASDAQ: SGRP), the marketing and merchandising services provider, has been amping up its management this week. The company is strengthening its executive team with a mission towards global expansion. Key appointments include Chief Strategy and Growth Officer and Chief Global Commercial Officer. William Linnane and Ron Lutz are taking over these positions, respectively. Apart from this, Kori Belzer is taking over as the designation of Global Chief Operating Officer. He is vested with the responsibilities of global operations and results.
New appointments to drive global synergies
The addition of Willian and Ron to the executive leadership team is meant for global synergies drive. While Ron is vested with the responsibility of leading the company’s global commercial business development, he is also accountable for marketing and global business branding in Canada and Japan.
William, in the meanwhile, is responsible for growing Assembly business and Great Openings, along with the development of new markets. Additionally, the purpose is to expand technology and global programs as well.
Kori, on the other hand, has the responsibility for operational efficiency in all countries. In addition, the three executives are supposed to drive the company’s growth in new markets.
The Board rejig
A month ago, three keyboard members had resigned from the firm. These included Mr. Jeffrey A. Mayer, Mr. Igor Novgorodtsev, and Mr. Arthur H. Baer. Their resignation came into effect on June 9, 2021. The resignation of keyboard members has impacted the company’s Nasdaq listing. In its notice to NASDAQ, the company said that it wouldn’t be compliant with the Nasdaq Listing Rule 5605(b)(1) for the meantime since it requires Independent Directors to form the significant portion of the Company’s Board. Additionally, the company is also not compliant with the Nasdaq Listing Rule 5605(c), which needs an audit committee with a minimum of three members who must each be the independent director.