SMG Industries Inc. appointed new CEO

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANAGEMENTS OF CERTAIN OFFICERS 


On August 24, 2021, the Company's board of directors appointed Mr. Allen R. Parrott to serve as Chief Financial Officer of the Company and Mr. Steven Madden to serve as Chief Transition Officer of the Company.


Mr. Parrott served as the Chief Financial Officer of GreenPath Logistics from December 2020 to August 2021. GreenPath is a company that owns and operates a fleet of 125 natural gas-powered tractors where Mr. Parrott led the creation of the ground transportation green fleet from inception to $20,000,000 in annual revenues. From August 2019 through December 2020, Mr. Parrott was the Chief Financial Officer of CIG Logistics, a technology driven logistics company. From April 2018 through August 2019, Mr. Parrott was the Chief Financial Officer and Executive Vice President of Central Freight Lines, a less than truckload company that generated approximately $300 million in revenue per year during Mr. Parrott's tenure. From January 2016 through April 2018, Mr. Parrott was the Corporate Controller of Crane Worldwide Logistics, a global freight management and contract logistics services company. Prior to 2016, Mr. Parrott served as a controller, finance director and accounting manager for various global public and privately owned enterprises including CEVA Logistics, Hewlett Packard, Compaq Computer Corporation and Keystone International in several different industries including logistics, transportation, technology and manufacturing. Mr. Parrott earned a Bachelor of Science in Finance from the University of Houston, Clear Lake in 1989.


Mr. Madden has assembled and grown a portfolio of companies over the past 30 years and serve as Chairman and CEO of Apex Heritage Group. Mr. Madden and his management teams have globally built, acquired, merged, and sold businesses, real estate and investments in and around the industrial, automotive, aerospace and energy industries. His experience and expertise include manufacturing, engineering, distribution, service companies and top-grading management teams. Mr. Madden has also served on a variety of non-profit boards in the role of Chairman, President, Long Range Planning Chair and Educational Chair for organizations including international commerce and industry associations, recreational clubs, youth sports associations, continuing educational groups, churches, and Vanderbilt University. Mr. Madden graduated from Vanderbilt University with a B.S. in 1991 and also attended the University of Innsbruck, Austria. 


Additionally, on August 23, 2021, Mr. Jeffrey Martini resigned his contract roles as Chief Executive Officer and Chief Financial Officer of the Company, completing his service of strategy-setting, cost optimization and revenue growth. Mr. Martini will continue to assist the Company in an advisory capacity to effectuate an orderly transition of duties over the coming weeks. His resignation is not a result of any disagreement with the Company as to its operations, policies or practices.