Before the opening bell, WGE Holdings Corporation (OTC: WGEE) gave prospective investors an in-depth look at its corporate restructuring plans. Moving forward, Christopher James McKenna will serve as the company’s chairman and chief executive officer. McKenna is a U.S. Navy veteran with more than 25 years of experience building businesses and charity organizations related to entertainment and manufacturing. He currently sits on the board of the Army Navy Union, Am Vets, Veterans of Foreign Wars (VFW), Happy Panda Manufacturing USA, Happy Panda EU and four other manufacturing firms located in Fort Wayne, Indiana. The company expects McKenna’s business connections to open doors and bring to bear resources not available to the competition.
McKenna is joined on the WGE Holdings management team by Gerry Martin, who will serve as the company’s chief operations officer. Martin studied political science at Purdue University and has amassed 25 years of applicable business experience. He is the owner of The Martin Group, a multi-faceted hospitality consulting firm, as well as the vice president of Martin’s Concessions, which has several patents pending on concession-related products. Martin previously owned and operated Pier 32, a premier destination restaurant on Hamilton Lake in Northeast Indiana with annual revenues in excess of $2 million. His multi-decade experience in the hospitality industry is expected to play a key role in executing the strategic vision and operation of WGE Holdings in the months to come.
Following its restructuring, WGE Holdings will be concentrating on achieving growth through the acquisition of businesses with strong track records and valuations between $1 million and $5 million. The company will apply its formula for growth and duplication in order to reduce entry barriers and replicate existing positive business into new demographically and fiscally viable markets under its umbrella.
The company plans to complete its restructuring efforts in the second quarter of 2016. Related milestones include implementation of a standard operating procedure, updating of its website, production of marketing and business plans, launch of an investor relations campaign and active engagement of acquisitions. According to the release, WGE Holdings has already commenced due diligence on several acquisition candidates, with the selection process of its first acquisition expected to take place next quarter.
For more information, visit www.wgeholdings.com
