William Linnane appointed as permanent CEO of SPAR Group

CHARLOTTE, N.C. - SPAR Group, Inc. (NASDAQ:SGRP) announced today the appointment of William Linnane as its permanent Chief Executive Officer, effective immediately. Linnane, who has been serving as President and Interim CEO earlier this year, will also join the company's Board of Directors. The micro-cap company, with a market capitalization of just $23.61 million, has seen its stock price fall by over 55% in the past year, according to InvestingPro data.

"William has demonstrated outstanding leadership, strategic vision, and a strong dedication to SPAR's mission, clients, and associates throughout his tenure as interim CEO," said James Gillis, Executive Chairman of the SPAR Group Board of Directors, according to a company press release.

Linnane expressed his commitment to the company's future direction, stating he aims to "transform retail innovation into measurable results" while building "a structurally leaner, more profitable business."

The new CEO indicated confidence in the company's ability to meet its financial objectives for 2026 as part of its strategic plan.

SPAR Group provides merchandising, marketing, and distribution solutions to retailers and brands across the United States and Canada. The company specializes in retail analytics and brand experience improvement services.

The leadership change comes as the company seeks to accelerate growth and enhance profitability in its operations serving the retail sector.

In other recent news, SPAR Group announced several significant leadership changes and strategic repositioning efforts. Michael R. Matacunas has retired as Chief Executive Officer and board member, with William Linnane appointed as interim CEO while also continuing his role as President. James Gillis has been named Executive Chairman, overseeing operations alongside Linnane, who has acquired a stake in the company. Additionally, Josh Jewett has been appointed as Chief Technology Officer as part of the company's strategic refocus following a period of restructuring and divestment of offshore operations.

SPAR Group also extended and increased its credit facilities with SLR Business Credit, effective October 9, 2025. The US revolving credit facility has been increased from $28 million to $30 million, while the Canadian facility has grown from US$2 million to US$6 million. The company has raised the cap on eligible unbilled accounts in the US borrowing base to $15 million, up from $7 million, and increased the Canadian cap to $2 million from CDN$800,000. Furthermore, Matacunas' departure included a transition agreement with a $2 million retention bonus and the extension of his stock option exercise period. The termination of a prior change in control severance agreement removed a $4 million potential liability from the company.

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