SGRP News & Events

Spar Group appointed Steven Hennen as CFO, effective December 8. Hennen succeeds Antonio Calisto Pato, who served as CFO since February 2023. Calisto Pato will be actively involved in the Q4 and full-year reporting process, and will serve as an advisor to ensure a smooth transition through the filing of the company's 2025 Annual Report. Most recently, Hennen served as President and CFO of Baker & Taylor, a multi hundred-million-dollar annual revenue company, where he managed global finance and operations. His earlier leadership roles included VP of Finance and Accounting and Corporate Controller at Red Ventures. Hennen also held CFO and senior leadership roles for DyStar, L.P./Color Solutions International, Boehme Filatex and Technimark. He began his career with KPMG.

Reports Q3 revenue $41.416M vs $37.788M last year. William Linnane, President and Chief Executive Officer of SPAR Group, commented, "Although we are very pleased to report topline momentum this quarter, with combined U.S. and Canada net revenues up 28.2% over third quarter last year, we recognize that there is more work ahead to build a structurally leaner and more profitable business. The quarter had a benefit to its growth rate due to the timing of one-off project work. However, overall we do expect the growth of U.S. and Canada net revenue to be higher in second half than in first half of 2025. As we plan for 2026, our strategic imperatives center on driving continued revenue growth-particularly within higher margin merchandising services for retailers and consumer packaged goods clients-reducing senior team leadership costs and management layers, eliminating non-revenue-generating costs, and heightening our focus on cash generation and working capital discipline."

SPAR Group announced the appointment of William Linnane as its CEO. Linnane, who has served as President and Interim CEO since earlier this year, assumes the permanent CEO role, effective immediately. In conjunction with the appointment, Linnane also joins the Company's Board of Directors.

Spar Group announced that 40-year retail and distribution James Gillis is executive chairman, effective immediately. Gillis will join recently named President William Linnane in leading and overseeing the organization. As part of this leadership transition, Linnane will report to Gillis and hold overall responsibility for managing the company's operational execution.