SPAR Group Announces New Chief Financial Officer

Promotes Independent Board Members to Chairman & Vice Chairman

WHITE PLAINS, N.Y., Aug. 19, 2020 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (Nasdaq:SGRP), a leading supplier of retail merchandising, business technology and other marketing services in 10 countries throughout North America, Latin America, Asia Pacific and Africa, today announced that Fay DeVriese will join the company as chief financial officer (CFO).  Ms. DeVriese will succeed Jim Segreto, who is retiring following a successful 23-year career at SPAR Group.  Ms. DeVriese will lead SPAR Group’s financial operations and regional finance teams. Mr. Segreto will continue to work with the Company as a consultant and assist through the transition.

“I am very pleased to welcome Fay to the SPAR Group family.  She is a proven senior financial executive and leader, and will play a vital role in our success,” commented Arthur H. Baer, chairman of the board of directors of SPAR Group.  “On Behalf of the board and the rest of our team at SPAR, I would also like to express our sincere appreciation for Jim’s contribution and dedication to SPAR over the past 23 years. He has been instrumental in building very strong financial functions to support our business growth.  We wish him all the best on his well-deserved retirement.”

Ms. DeVriese joins SPAR with more than 25 years of global experience in corporate and business accounting and finance.  Most recently she served as Chief Financial Officer at Letica Corporation and has served in financial leadership roles at DSM Engineering Plastics, Eaton Corporation, Continental Automotive Systems and Motorola.  Ms. DeVriese is a CPA, licensed in the State of New York.  She earned a BBA from the State University of New York.

Separately, the Company announced Arthur H. Baer, has been appointed to chairman of the board of directors of SPAR Group and that Igor Novgorodtsev, has been appointed to vice chairman. 

Mr. Baer joined the board on September 3, 2019 as an independent board member and continues to serve as chairman of the Audit Committee and serves on the Governance Committee.  Prior to his retirement, he most recently served as President of the $4 billion Europe/Middle East/Africa operations for Arrow Electronics.  He was also director and Audit Committee Chair for Seneca Foods, Inc for 20 years, Dean of the College of Business and Administration at Drexel University, and Town Mayor and County Executive in Columbia County New York.