Q.E.P. Co., Inc. Appoints Robert Costello to Board of Directors

Rhea-AI Summary

Q.E.P. Co., Inc. (OTCQX: QEPC) has appointed Robert Costello as an independent, non-executive director. Costello brings over 30 years of corporate legal and business development experience, including roles in multinational companies and private firms. His expertise includes domestic and cross-border mergers and acquisitions, as well as operational roles in various industrial sectors. Lewis Gould, Executive Chairman, expressed enthusiasm for Costello's appointment, highlighting the valuable insights he will contribute to the board. Founded in 1979, QEP designs and distributes flooring solutions worldwide, with a comprehensive product line offered under several brand names.

Positive

• Appointment of Robert Costello as independent director may enhance board expertise.
• Costello's extensive experience in mergers and acquisitions can provide strategic insights.

Negative

• Potential concerns over continuity with a newly appointed director.
• Experience gap in specific sectors may pose challenges.

BOCA RATON, Fla., March 06, 2023 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTCQX: QEPC) (the “Company” or “QEP”) is pleased to announce the appointment of Robert Costello to its board of directors as an independent, non-executive director.

Mr. Costello is a Partner and General Counsel of TTC Equity Partners and brings 30 years of corporate in-house legal, transactional, operational, and business development experience to his current role with TTC. Prior to TTC, Mr. Costello held legal and operational senior leadership roles in both multi-national public companies and private companies in the industrial manufacturing, service, fire and security, and distribution sectors. In those capacities, Mr. Costello’s primary focus included domestic and cross-border merger and acquisition transactions, acquisition financings, and business integration, including three years in Singapore as General Counsel of a public U.S. conglomerate’s Asian operations.

“We are excited to welcome Rob Costello to our board of directors,” stated Lewis Gould, Executive Chairman. “Rob is a seasoned attorney with many years of private equity and business experience in multiple industrial sectors that will add valuable expertise and insights to our board of directors.”

About QEP

Founded in 1979, Q.E.P. Co., Inc. is a leading designer, manufacturer and distributor of a broad range of best-in-class flooring and installation solutions for commercial and home improvement projects worldwide. QEP offers a comprehensive line of specialty installation tools, adhesives, and underlayment as well as a complete line of hardwood, luxury vinyl, and modular carpet tile. QEP sells its products throughout the world to home improvement retail centers, professional specialty distribution outlets, and flooring dealers under brand names including QEP^®, LASH^®, ROBERTS^®, Capitol^®, Premix-Marbletite^® (PMM), Vitrex^®, Brutus^®, Homelux^®, PRCI^®, Plasplugs^®, and Tomecanic^®. Brands featured under QEP’s Harris Flooring Group^® include Harris^®, Kraus^® and Naturally Aged Flooring™.

QEP is headquartered in Boca Raton, Florida with offices in Canada, Europe, Asia, Australia and New Zealand. Please visit our website at www.qepcorporate.com.

Forward-Looking Statements

All statements contained in this press release, other than statements of historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. Any forward-looking statements contained herein are based on current expectations and beliefs, and are subject to a number of risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking statements, except as required by law.

CONTACT:
Q.E.P. Co., Inc.
Enos Brown
Executive Vice President and
Chief Financial Officer
561-994-5550

FAQ

Who is Robert Costello and what is his role at QEP?

Robert Costello is the newly appointed independent director at Q.E.P. Co., Inc., bringing 30 years of corporate legal and business experience.

What expertise does Robert Costello bring to QEP?

Costello offers extensive experience in legal, transactional, operational, and business development roles, particularly in mergers and acquisitions.

What is the significance of the new board appointment for QEP?

The appointment aims to strengthen the board with expertise that may enhance decision-making and strategic direction.

When was Robert Costello appointed to the QEP board?

Robert Costello was appointed to the board of directors on March 6, 2023.