Attached files
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| EX-99.1 - CAPITAL GROWTH SYSTEMS INC /FL/ | v211998_99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): February 14,
2011
Capital
Growth Systems, Inc.
(Exact Name of Registrant as Specified in Its Charter)
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Florida
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0-30831
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65-0953505
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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200 S.
Wacker, Suite 1650, Chicago, Illinois 60606
(Address of Principal Executive Offices, Including Zip Code)
(312)
673-2400
(Registrant's Telephone Number, Including Area Code)
Not
Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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(b) Separation
from Employment.
George
King has been the President of Capital Growth Systems, Inc. (the “Company”)
and more
recently has served as the Interim Chief Financial Officer of the
Company. He entered into a separation agreement with the Company on
February 14, 2011, agreeing to separate from employment as of that
date. The agreement calls for continued payment of certain benefits
and for payment of severance contingent upon the effectiveness of a full release
of the Company by Mr. King. Effectiveness of the release is subject
to a 7 day period from signature, in which he may elect to rescind the
release. Payment of the severance is contingent upon bankruptcy court
approval. Mr. King continues to serve on the Company’s board of
directors.
(c) Appointment
of Chief Financial Officer.
Dan
Kardatzke is serving as the Company’s chief financial officer, with his
appointment effective as of January 6, 2011. Mr. Kardatzke, 37,
joined the Company in February 2007 as the Vice President of Business
Development, and just prior to assuming the role of Executive Vice President of
Corporate Development and Chief Financial Officer held the position of Senior
Vice President of Corporate Development overseeing M&A, corporate strategy,
risk management and investor relations. Prior to joining the Company
full-time, Mr. Kardatzke operated as an independent consultant handling the due
diligence on the acquisitions by the Company of CentrePath, Inc. and Global
Capacity Group, Inc. in 2006. Mr. Kardatzke has more than fifteen
years of experience in corporate finance and strategy, as well as experience in
co-founding his own company, SageTV back in 2002 that he led as President, Chief
Executive Officer and Chief Operating Officer until December of
2005. Mr. Kardatzke began his corporate finance career from 1997 to
2002 in a variety of roles at Frankel and MarketForward (Publicis Groupe
companies) until he founded SageTV. Mr. Kardatzke holds a Bachelor’s
Degree in Corporate Finance from the University of Illinois.
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Item
9.01
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Financial
Statements and Exhibits
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| Exhibit 99.1 | George A. King Release Agreement |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: February
18, 2011
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CAPITAL
GROWTH SYSTEMS, INC.
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By:
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/s/
Patrick C. Shutt
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Patrick
C. Shutt
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Chief
Executive Officer
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