The Board of Directors of BG Staffing, Inc. approved the appointment of L. Allen Baker, Jr. as Chairman of the Board of the Company. In conjunction with such appointment, Mr. Baker will resign as the Chief Executive Officer and President of the Company and its subsidiaries upon the naming of his successor; will remain as Chairman, and will provide certain ongoing consulting services to the Company to be defined at a later date. The Board of Directors also have fully vested all of Mr. Baker's remaining stock options outstanding.
The Compensation committee of the Board of Directors will begin a search for a new Chief Executive Officer and President, which includes consideration of existing employees of the Company.
BGSF, Inc. is a provider of consulting, managed services, and professional workforce solutions. The Company operates through two segments: Property Management and Professional. The Property Management segment is a provider of office and maintenance talent. It operates in 38 states and D.C. The Professional segment provides specialized talent and business consultants for information technology (IT), managed services, finance, accounting, legal and human resources. The segment operates across the United States in three divisions: IT, Managed Solutions, and Finance & Accounting, with the IT division providing additional nearshore and offshore solutions in Colombia and India. Its client partners include Fortune 500 companies, medium and small companies, as well as consulting firms engaged in systems integration projects. Its workforce services consist of on-demand or short-term assignments, consulting services, managed services and on-site management administration.