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General Employment Enterprises Inc. (NYSE MKT: JOB) officially appointed Andrew Norstrud as CEO, effective March 7. Norstrud has been the company’s CFO since March 2013 and assumed the responsibilities of principle executive officer in November, replacing Chairman and CEO Michael Schroering, who stepped down to pursue his other business interests.
"Over the past 12 months, we have been successful at cleaning up several issues of the past, while eliminating unnecessary expenditures and refocusing the business on our customers and candidates,” said Norstrud. “We will continue making vital investments in infrastructure necessary to support our expansion initiatives and the achievement of our long-term vision.”
Norstrud’s annual salary increased to $250,000 per year and he was granted an option to purchase up to one million common shares at a per share price of 35 cents, according to a filing with the U.S. Securities and Exchange Commission.
Before joining General Employment, Norstrud was a consultant at Norco Accounting and Consulting, where he focused on assisting companies with mergers and acquisitions and SEC filing requirements. He also previously served as CFO for Jagged Peak Inc. and Segmentz Inc., and worked for both Grant Thornton LLP and PricewaterhouseCoopers LLP. Norstrud holds a master of accounting degree with a systems emphasis from the University of Florida and is a Florida licensed certified public accountant.
General Employment operates 22 branch offices in 11 states. It provides professional staffing services and light industrial staffing services.