BGSF Names New CFO and Secretary, Outlines Compensation Plan

PLANO, TX – BGSF, Inc. has announced the appointment of Keith Schroeder as the new Chief Financial Officer and Secretary, effective today. The staffing services company, currently trading near its 52-week low at $3.55 and maintaining an impressive 17% dividend yield, detailed the executive changes and compensatory arrangements in a recent SEC filing. According to InvestingPro analysis, BGSF appears undervalued based on its Fair Value estimates, presenting a potential opportunity for value investors.

Schroeder, 69, brings over four decades of experience across various financial and leadership roles. His prior positions include President and CEO of Novipax Buyer, LLC, and CFO roles at Novipax LLC and Orchids Paper Products. Schroeder, a Certified Public Accountant (inactive), holds a Bachelor of Science in Business Administration in Accounting. He joins BGSF at a crucial time, with the company generating $272.5 million in revenue over the last twelve months and maintaining a strong dividend payment track record of 11 consecutive years.

The employment agreement with Schroeder, effective as of February 24, 2025, extends through December 31, 2027, with potential for one-year extensions. His initial annual salary is set at $350,000, scheduled to increase annually, reaching $400,000 by March 13, 2027.

Schroeder’s compensation package includes an equity grant valued at $200,000, split evenly between stock options and restricted stock, both vesting on March 13, 2028. He is also eligible for annual bonuses tied to the company’s adjusted EBITDA performance and may receive additional bonuses for involvement in acquisitions.

The agreement includes provisions for severance and benefits, contingent on the manner of termination, with specific terms outlined for scenarios involving a change of control of the company.

Concurrent with his appointment, Schroeder entered into agreements with BGSF regarding confidentiality, non-solicitation, non-interference, and non-competition, effective for varying periods post-termination.

John Barnett, the previous CFO and Secretary, resigned on March 12, 2025, as part of a planned leadership transition. Barnett will continue in an advisory role during the transition period. For deeper insights into BGSF’s financial health, valuation metrics, and growth prospects, InvestingPro subscribers have access to over 30 additional financial metrics and exclusive analysis.

The information for this article is based on a press release statement.

In other recent news, BG Staffing Inc (NYSE:BGSF). reported its fourth-quarter 2024 earnings, revealing a mixed performance. The company posted an adjusted loss of $0.06 per share, which was better than the expected loss of $0.09 per share. However, revenue fell short of expectations, coming in at $64.4 million compared to the forecasted $68.5 million. This revenue figure also represents a decline from the $73.6 million reported in the same quarter the previous year. The company has announced a significant restructuring plan, aiming to save $7–$9 million in 2025, which includes headcount reductions and streamlined indirect costs. The restructuring efforts are expected to enhance operational efficiency and improve financial performance. Additionally, BG Staffing launched a new lead generation engine that contributed $2 million in revenue. Analysts from firms like Taglich Partners and Roth Capital have shown interest in the company’s strategic initiatives and restructuring efforts.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.