Item 8.01 Other Events
On April 6, 2023, the Board of Directors, through a vote of Unanimous Written
Consent engaged Mr. Michael Giorgi as the Company's Interim Chief Growth
Officer.
Mike Giorgi, age 48, an accomplished and entrepreneurial technology founder and
product visionary with extensive experience in directing business development,
operations, strategic planning, and profit and loss oversight. Mr. Giorgi has
experience as an executive and operations leader with a prior history of
increasing sales for both B2B and B2C-based organizations. He is an analytical,
decisive, and results-oriented leader who champions the diversification of
market channels and spearheads operational improvements to drive productivity
and slash costs.
Mr. Giorgi's professional experience spans over two decades, with notable
accomplishments in each role. At Luminance Brands, Mr. Giorgi served from 1999
to 2023 as President & CEO, where he oversaw the manufacturing of 16,000 SKUs in
China, a distribution center in Houston, a showroom in Dallas, warehouses in New
York and California, and a corporate headquarters in Ohio that employed 150
staff. He maintained profit and loss (P&L) responsibility for a $67M business,
orchestrated a corporate headquarters relocation project from California to Ohio
that reduced footprint and generated more than $2M in annual cost savings while
streamlining daily operations. Under his leadership, the company grew sales 70%
year over year from 2020 to 2022 and secured a licensing deal with Kathy Ireland
Worldwide, generating additional revenue. He also applied his background in
Internet of Things to develop connected lighting products that brought the
company into the technology sector, earning market share and driving sales
growth.
Prior to Luminance Brands, Mr. Giorgi founded Magnum Innovations in 2010, where
he conceptualized and filed 12 patents, with six approved and six pending.
Magnum focused on the design, development, and US-based manufacturing of
innovative, self-powered wireless lighting and building control products serving
the commercial market; included hardware and Software as a Service (SaaS) based
offerings. Under his leadership from 2010 to 2019, Magnum Innovations secured
funds through private money and a capital raise with United Technologies, and
grew into a profitable company with 24 employees. He also led product
development for innovative services, including Internet of Things (, building
automation, and wireless sensors, gaining market share and recognition as a
cutting-edge company.
Before Magnum Innovations, Mr. Giorgi worked at Magnum Steel & Trading from 1999
to 2008, where he oversaw logistics and supply chain for four reroll mills
across the United States, nurturing strategic partnerships with Norfolk Southern
and CSX to secure on-time deliveries and safeguard production. He contributed to
strategic planning and organizational decision-making in concert with executive
leadership, aiding the growth of the company from $80M to $250M in annual
revenue during his tenure.
Mr. Giorgi holds progress towards a Bachelor of Business Administration (BBA) in
International Business from Kent State University .
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded
within the inline XBRL document)
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