SPAR Group Names New Chief Financial Officer
SPAR Group Names New Chief Financial Officer
Nov 30, 1999
SPAR Group Names New Chief Financial Officer
Robert G. Brown, Chairman, Chief Executive Officer and President of SPAR Group, Inc. said, "Charlie brings a broad range of financial expertise and managementexperience to SPAR Group. His background in merchandising, consumer products, distribution and manufacturing will be very helpful as we enter a new phase in thecompany's strategic growth. The combination of operating efficiencies obtained in the PIA merger with SPAR's Internet and online data collection capabilities will resultin a new level of service for both PIA and SPAR clients. We welcome Charlie's advice and financial leadership as SPAR Group completes its merger with PIA andbegins to establish itself as one of the nation's largest providers of in-store merchandising and other marketing services."
"I am very excited to be joining the most progressive in-store merchandising company in the industry," said Cimitile. "Utilizing the Internet and other online data baseapplications, Bob and the rest of the SPAR management team have built an organization that is focused on delivering timely information and results to its clients. I expectto assist SPAR by building a solid financial and accounting organization that will be necessary to support sustained growth into the 21st century." Cimitile will be locatedin SPAR Group's New York headquarters.
Cimitile (45) most recently served as Vice President of Finance and Chief Financial Officer for GT Bicycles, Inc., (Nasdaq:GTBX) a publicly held internationalmanufacturer and distributor of bicycles and related parts and accessories based in Santa Ana, California, which was merged with Schwinn Bicycles. Earlier, he servedas Executive Vice President and Chief Financial Officer for Cruisephone, Inc., a privately held venture providing telecommunications services to the cruise and maritimeindustries. Prior to Cruisephone, Cimitile was Chief Financial Officer for American Recreation Company Holdings, Inc. (Nasdaq:ARCH - news), an internationaldistributor of bicycles and related parts and accessories. Cimitile began his career as an audit senior with Deloitte & Touche.
Wood, who elected not to transfer to New York, will remain a consultant to the company through the balance of the year. "We are extremely grateful to Cathy Woodfor her many contributions during the merger negotiations and her financial guidance subsequent to its completion," said Brown. "We respect her decision to remain inCalifornia and wish her well in her future endeavors."
SPAR Group, Inc. is focused on providing clients a wide array of marketing and sales solutions through a single point of contact. The company serves more than 18,000grocery stores, 6,200 drug stores and 8,800 mass merchandiser stores with in-store merchandising. The company offers incentive programs with interactive Internetdelivery and fulfillment, IVR and other voice recognition programs, database collection management and delivery, and market research services.
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. The company's actual results could differ materially fromthose indicated by such statements as a result of various factors, including the continued building of sales momentum, the ability to achieve expected synergies as a resultof the merger and other factors discussed in PIA's Definitive Proxy Statement, Form 10-K and Form 10-Q on file with the SEC and other filings made with the SEC from time to time.
SPAR Group Names New Chief Financial Officer
TARRYTOWN, N.Y., Nov. 30, 1999 -- SPAR Group, Inc., (Nasdaq:SGRP) today announced theappointment of Charles Cimitile as its new Chief Financial Officer, replacing Cathy L. Wood.Robert G. Brown, Chairman, Chief Executive Officer and President of SPAR Group, Inc. said, "Charlie brings a broad range of financial expertise and managementexperience to SPAR Group. His background in merchandising, consumer products, distribution and manufacturing will be very helpful as we enter a new phase in thecompany's strategic growth. The combination of operating efficiencies obtained in the PIA merger with SPAR's Internet and online data collection capabilities will resultin a new level of service for both PIA and SPAR clients. We welcome Charlie's advice and financial leadership as SPAR Group completes its merger with PIA andbegins to establish itself as one of the nation's largest providers of in-store merchandising and other marketing services."
"I am very excited to be joining the most progressive in-store merchandising company in the industry," said Cimitile. "Utilizing the Internet and other online data baseapplications, Bob and the rest of the SPAR management team have built an organization that is focused on delivering timely information and results to its clients. I expectto assist SPAR by building a solid financial and accounting organization that will be necessary to support sustained growth into the 21st century." Cimitile will be locatedin SPAR Group's New York headquarters.
Cimitile (45) most recently served as Vice President of Finance and Chief Financial Officer for GT Bicycles, Inc., (Nasdaq:GTBX) a publicly held internationalmanufacturer and distributor of bicycles and related parts and accessories based in Santa Ana, California, which was merged with Schwinn Bicycles. Earlier, he servedas Executive Vice President and Chief Financial Officer for Cruisephone, Inc., a privately held venture providing telecommunications services to the cruise and maritimeindustries. Prior to Cruisephone, Cimitile was Chief Financial Officer for American Recreation Company Holdings, Inc. (Nasdaq:ARCH - news), an internationaldistributor of bicycles and related parts and accessories. Cimitile began his career as an audit senior with Deloitte & Touche.
Wood, who elected not to transfer to New York, will remain a consultant to the company through the balance of the year. "We are extremely grateful to Cathy Woodfor her many contributions during the merger negotiations and her financial guidance subsequent to its completion," said Brown. "We respect her decision to remain inCalifornia and wish her well in her future endeavors."
SPAR Group, Inc. is focused on providing clients a wide array of marketing and sales solutions through a single point of contact. The company serves more than 18,000grocery stores, 6,200 drug stores and 8,800 mass merchandiser stores with in-store merchandising. The company offers incentive programs with interactive Internetdelivery and fulfillment, IVR and other voice recognition programs, database collection management and delivery, and market research services.
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. The company's actual results could differ materially fromthose indicated by such statements as a result of various factors, including the continued building of sales momentum, the ability to achieve expected synergies as a resultof the merger and other factors discussed in PIA's Definitive Proxy Statement, Form 10-K and Form 10-Q on file with the SEC and other filings made with the SEC from time to time.
CONTACT: SPAR Group, Inc.
Bob Brown, 914/332-4100
or
Pondel/Wilkinson Group
Gary S. Maier/Kristin Bruno, 310/207-9300