SPAR Group announces leadership changes, strategic refocus

CHARLOTTE, N.C. - SPAR Group (NASDAQ:SGRP), a merchandising and marketing solutions provider with a market capitalization of $23.6 million, has announced leadership changes as part of its strategic repositioning following nearly two years of restructuring and divestment of offshore operations. According to InvestingPro data, the company’s stock has declined nearly 46% year-to-date, highlighting the challenges facing the new leadership team.

The company has named William Linnane as President and appointed Josh Jewett as Chief Technology Officer. According to a company press release, Linnane has been promoted based on his track record of meeting revenue goals while maintaining expense discipline across the organization. The appointments come as SPAR manages annual revenues of $143.5 million with a gross profit margin of 21.8%.

Jewett, described as a retail industry technology expert with Fortune 500 CIO experience, will report to Linnane and lead SPAR’s digital transformation initiatives. His appointment comes as the company seeks to enhance its technological capabilities to improve internal operations and client offerings.

"I am excited to lead the team in this next level of strategic growth and expansion of the Company," Linnane stated in the release. He emphasized the importance of Jewett’s technology and AI expertise in transforming SPAR’s market approach.

James Gillis, Executive Chairman of SPAR Group’s Board of Directors, expressed confidence that the new leadership team will accelerate growth and deliver results for clients and shareholders.

The leadership changes follow SPAR’s divestment of offshore businesses and operational repositioning. The company provides merchandising, marketing, and distribution solutions to retailers and brands across North America. InvestingPro analysis reveals 8 additional key insights about SPAR’s financial health and market position, available in the comprehensive Pro Research Report.

SPAR management anticipates exceeding key financial metrics in 2026, according to the announcement, though specific targets were not disclosed in the press release. While the company maintains a healthy current ratio of 1.36, InvestingPro analysis suggests the stock is currently trading below its Fair Value, potentially presenting an opportunity for investors seeking undervalued companies.

In other recent news, Spar Group announced significant changes in its executive leadership. Michael R. Matacunas, the current President, has resigned and plans to retire from his role as Chief Executive Officer effective October 3, 2025. As part of his departure, a transition agreement was established, which includes a $2 million retention bonus for Mr. Matacunas. Additionally, the agreement extends his stock option exercise period for three years following his resignation and provides immediate vesting of restricted stock units issued earlier in 2025. The company and Mr. Matacunas have also executed a mutual release of claims, which includes the termination of a prior change in control severance agreement. This termination removes a potential $4 million liability for the company. These developments were detailed in a statement based on a Securities and Exchange Commission filing.

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