Qualstar Introduces New Board of Directors Member Mark Tobin

Rhea-AI Summary

Qualstar Corporation (OTC Markets: QBAK) has appointed Mark Tobin as an independent director, succeeding longtime board member Leonard Hagan. Tobin brings 24 years of experience in finance and operations, particularly in U.S./China transnational operations, which will support Qualstar's strategic expansion into the Chinese market. CEO Steven N. Bronson expressed enthusiasm for Tobin's expertise, expecting it to be vital in executing the company's business strategy amid rising global demand for data storage solutions.

Positive

• Appointment of Mark Tobin as independent director could provide fresh perspectives in board leadership.
• Tobin's experience in finance and operations may aid in strategic global expansion, particularly in China.

Negative

• Departure of Leonard Hagan may create concerns about continuity in board leadership.

IRVINE, Calif., Feb. 4, 2021 /PRNewswire/ -- Leading data storage solutions provider Qualstar Corporation (OTC Markets: QBAK) is pleased to announce the appointment of Mark Tobin to the position of independent director. Mark assumes the position from longtime board member Leonard Hagan, who is stepping down to pursue personal interests.

As a member of the Qualstar board of directors, Mark will leverage his 24 years of experience in finance, operations, and management to help guide the company as it pursues strategic global expansion through new product development and penetration into new markets. To this end, his familiarity with U.S./China transnational operations will prove vital as Qualstar aggressively pursues the Chinese market.

"While we will fondly miss Leonard and wish him the best, we are very excited to welcome Mark to the board," said Steven N. Bronson, president and CEO of Qualstar. "His overall experience in finance and operations will be invaluable as we execute on our business strategy."

In addition to his position on the board, Mark is also CFO at global industrial printer manufacturer Printronix, also based in Irvine. Prior to this, he was executive vice president and CFO at solar technology company NanoFlex Power Corporation and served in various senior roles within the investment banking industry. After graduating from the United States Air Force Academy, Mark started his career as an officer in the U.S. Air Force—overseeing advanced technology development programs and representing the U.S. as a NATO delegate—ultimately achieving the rank of Major. He received an MBA from the University of Pittsburgh and is a certified management accountant.

"Qualstar is in an amazing position to take advantage of accelerating market demand for data storage solutions," said Mark Tobin. "I look forward to bringing my insight to the board of directors and helping Qualstar expand its global market share even further."

About Qualstar Corporation

Qualstar Corporation was founded in California in 1984 to develop and manufacture digital storage solutions. By 1995, the company had concentrated its efforts on magnetic tape libraries used to store, retrieve, and manage digital data. Qualstar's libraries provide the ideal storage solution for the growing number of organizations that require a way to keep critical but rarely accessed information safe and secure for long-term storage. Backed by more than 35 years of experience, Qualstar has earned a reputation for trust and reliability. Today, the company offers a full range of tape libraries in various sizes and configurations to meet any requirements. It maintains a global footprint and is currently in the process of establishing a presence in China. Learn more at Qualstar.com

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SOURCE Qualstar Corporation

FAQ

Who is Mark Tobin and what is his role at Qualstar Corporation?

Mark Tobin has been appointed as an independent director at Qualstar Corporation, bringing extensive experience in finance and operations.

What experience does Mark Tobin bring to Qualstar Corporation?

Mark Tobin has 24 years of experience in finance and operations, including expertise in U.S./China transnational business.

What impact could Mark Tobin's appointment have on Qualstar Corporation?

His appointment may enhance Qualstar's strategic direction, particularly in pursuing opportunities in the Chinese market.

Why did Leonard Hagan step down from the Qualstar board?

Leonard Hagan stepped down to pursue personal interests.

What is the significance of expanding into the Chinese market for Qualstar Corporation?

Expanding into the Chinese market could leverage significant growth opportunities given the rising global demand for data storage solutions.