SPAR Group to Recruit New Chief Executive Officer
SPAR Group to Recruit New Chief Executive Officer
Dec 04, 2006
SPAR Group to Recruit New Chief Executive Officer
"Our recent explosive growth overseas has made it impossible for me to give the day-to-day activities of our company sufficient attention. As our international business has grown the amount of travel required and other demands have increased significantly. By splitting the day-to-day management from the development of new strategic business opportunities and technologies, we will be able to capitalize on our recent momentum.
"Much of our investment in international and in-store events has been completed," Brown said. "We have now established joint ventures in many critical countries that already cover 48% of the world's population and we expect to continue this expansion. We have also successfully tested RFID in the United States and abroad. A new CEO will not only bring fresh management leadership to the company but will also prepare us for the next phase of growth.
"I personally look forward to working closely with our selected candidate to ensure an orderly transition. I have had the privilege of working with an incredible team and I am confident that we will quickly identify a leader who will earn their respect and confidence and also work well with our exceptional board of directors," Brown added.
William Bartels, vice chairman of SPAR Group, said, "Bob's daily inspiration will be sorely missed but I believe this step is necessary to realize the promise of his strategic initiatives. Since we co-founded the company in 1967, Bob has set a standard of integrity, creative talent, strategic thinking and managerial skills that have helped build a world-class organization with a unique culture and an unparalleled customer-service offering."
About SPAR Group
SPAR Group, Inc., with operations in the United States and Canada and joint venture partners in Japan, China, Australia, Turkey, South Africa, India, Romania and Lithuania, is a diversified international marketing services company, providing a broad array of services to help companies improve their sales, operating efficiency and profits at retail worldwide. The company provides in-store merchandising, in-store event staffing, RFID and other technology, as well as research to manufacturers and retailers covering all product classifications and all classes of trade, including mass market, drug store, electronic store, convenience store and grocery chains, throughout the United States and internationally. For more information, visit the company's Web site, www.sparinc.com.
Certain statements in this news release are forward-looking, including, but not limited to, the timing of recruiting and naming a new chief executive officer. The company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of SPAR Group's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of these and other factors that could affect future results, performance or trends are discussed in SPAR Group's annual report on Form 10-K as amended, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time.
SPAR Group to Recruit New Chief Executive Officer
Co-Founder and Current CEO Robert Brown to Remain Chairman, Concentrate on New Business Opportunities and Special Projects
TARRYTOWN, N.Y., Dec. 4, 2006 -- SPAR Group, Inc. (Nasdaq:SGRP) today announced that Robert G. Brown will step down from the post of chief executive officer some time in 2007 and remain chairman of the board, where he will continue to focus on the company's international and strategic initiatives including the development of third-party relationships throughout the world. A CEO selection committee appointed by the Board will guide the recruitment effort and ensure a smooth leadership transition."Our recent explosive growth overseas has made it impossible for me to give the day-to-day activities of our company sufficient attention. As our international business has grown the amount of travel required and other demands have increased significantly. By splitting the day-to-day management from the development of new strategic business opportunities and technologies, we will be able to capitalize on our recent momentum.
"Much of our investment in international and in-store events has been completed," Brown said. "We have now established joint ventures in many critical countries that already cover 48% of the world's population and we expect to continue this expansion. We have also successfully tested RFID in the United States and abroad. A new CEO will not only bring fresh management leadership to the company but will also prepare us for the next phase of growth.
"I personally look forward to working closely with our selected candidate to ensure an orderly transition. I have had the privilege of working with an incredible team and I am confident that we will quickly identify a leader who will earn their respect and confidence and also work well with our exceptional board of directors," Brown added.
William Bartels, vice chairman of SPAR Group, said, "Bob's daily inspiration will be sorely missed but I believe this step is necessary to realize the promise of his strategic initiatives. Since we co-founded the company in 1967, Bob has set a standard of integrity, creative talent, strategic thinking and managerial skills that have helped build a world-class organization with a unique culture and an unparalleled customer-service offering."
About SPAR Group
SPAR Group, Inc., with operations in the United States and Canada and joint venture partners in Japan, China, Australia, Turkey, South Africa, India, Romania and Lithuania, is a diversified international marketing services company, providing a broad array of services to help companies improve their sales, operating efficiency and profits at retail worldwide. The company provides in-store merchandising, in-store event staffing, RFID and other technology, as well as research to manufacturers and retailers covering all product classifications and all classes of trade, including mass market, drug store, electronic store, convenience store and grocery chains, throughout the United States and internationally. For more information, visit the company's Web site, www.sparinc.com.
Certain statements in this news release are forward-looking, including, but not limited to, the timing of recruiting and naming a new chief executive officer. The company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of SPAR Group's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of these and other factors that could affect future results, performance or trends are discussed in SPAR Group's annual report on Form 10-K as amended, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time.
CONTACT: SPAR Group, Inc.
Charles Cimitile, Chief Financial Officer
(914) 332-4100
PondelWilkinson Inc.
Roger S. Pondel
(310) 279-5980