Effective February 27, 2015, William J. Lally resigned from his position as President and Chief Executive Officer of Janel World Trade Ltd. to focus his full attention on his operational responsibilities at the company's operating subsidiary, Janel Group Inc. (‘Janel') as Executive Vice President of Janel and President of Janel's Midwest Region. Effective February 27, 2015, Vincent Iacopella resigned from his position as Chief Operating Officer of the company to focus his full attention on his operational responsibilities at Janel as Executive Vice President of Janel and President of Janel's West Coast Region. Effective February 27, 2015, John J. Gonzalez, II resigned from his position as Vice President of the company to focus his full attention on his operational responsibilities at Janel as Executive Vice President of Janel and President of Janel's East Coast Region.

Effective February 27, 2015, the company's board of directors appointed Brendan Killackey, currently a director of the company, as chief executive officer to serve until the next annual meeting of the board of directors of the company and until his successor is duly elected and qualified. Mr. Killackey, has served as a director of the company since September 2014. In his role as a director, he was instrumental in the rollout of the company's new technology platform and his broad knowledge of and experience in information technology will be beneficial to the company as reliance on information technology becomes increasingly critical to the company's business.