ARC Group, Inc. appointed Seenu G. Kasturi as its chief executive officer. As a result of the appointment, Mr. Kasturi now serves as the company's chief executive officer, chief financial officer and chairman of the company's board of directors. In connection therewith, on January 2, 2019, Mr. Kasturi resigned as the company president and Richard W. Akam resigned as the company's chief executive officer.

Mr. Akam will continue to serve as the company's chief operating officer and secretary. Mr. Kasturi has served as the Company's Chief Financial Officer and Chairman of the Company's board of directors since January 2017, and served as the Company's President from January 2017 to January 2019.