Quality Industrial Corp. appoints John-Paul Backwell as Chief Executive Officer

Rhea-AI Summary

Quality Industrial Corp. (OTC PINK: QIND) announced the appointment of John-Paul Backwell as its new CEO, effective October 21, 2022. Backwell, who previously served as Chief Commercial Officer, is set to lead the company through a critical phase of acquisitions. The firm plans to hire a permanent industry-specific CEO early next year. QIND is focused on significant acquisitions and aims to move off the OTC market, targeting over $100 million in annual revenue, moving towards billions by 2025. This restructuring is seen as vital for optimizing growth and managing upcoming deals.

Positive

• Appointment of John-Paul Backwell as CEO, bringing 25 years of leadership experience.
• Strategic focus on substantial acquisitions, positioning the company for growth.
• Forward-looking goal of increasing revenues to over $100 million, aiming for billions by 2025.
• Plans to transition to a major stock exchange align with investor interest.

Negative

• Concerns over leadership transition with the interim CEO role.
• Potential risk of execution challenges in integrating new acquisitions.

SAN FRANCISCO, CA / ACCESSWIRE / October 24, 2022 / Quality Industrial Corp. (OTC PINK:QIND), is a Mergers and Acquisitions company focused on the Industrial and Manufacturing sectors and is a subsidiary of ILUS International (Ilustrato Pictures International Inc; OTC: ILUS). The company announced that it has appointed John-Paul Backwell as its Chief Executive Officer as of the 21^st of October 2022. Mr. Backwell joined the Company on the 28^th of May 2022 as Chief Commercial Officer and holds the position of Managing Director at ILUS, which is the majority shareholder of the Company. Mr. Backwell has 25 years' experience in the development and leadership of global businesses.

John-Paul Backwell will lead QIND as CEO in the interim as the company completes and integrates its first round of acquisitions. Plans are already in place to appoint an industry specialist CEO who has led large companies in the Oil and Gas as well as Industrial sectors. The new appointment is expected to be made at the start of the new year when QIND moves to the next stage in its roadmap. This follows the strategy ILUS has already been rolling out with Emergency Response Technologies (ERT), the company's Emergency Response focused subsidiary, which appointed industry expert and former President of Rev Fire Group (NASDAQ: REVG), Dan Peters as its CEO.

Former QIND CEO, Carsten Kjems Falk, is already taking on the critical roles of Chief Commercial Officer for both ILUS and QIND. The realignment of the QIND board is important as both QIND and ILUS are in the process of closing very significant acquisitions and Mr. Falk's role is transitioning in line with his relevant experience, to manage ILUS' extensive administrative obligations as it completes its next acquisitions and prepares for its own planned move to a major stock exchange.

"I am pleased to take up the role of Chief Executive Officer to lead the integration and development of the new acquisitions which QIND is currently making. With the size of the businesses coming into QIND, their substantial current revenue and their proven capacity to achieve billions in annual revenue as well as the thriving markets which the businesses service, QIND is simply not a company which we see remaining on the OTC for much longer. Many institutional investors who are not mandated to invest in the OTC markets continue to be very interested in our company. Therefore, as a board, we have agreed that following the completion and integration of our two pending QIND acquisitions, we will aggressively prepare for a move to a bigger board in 2023, with the confidence and backing in place to achieve our goals." said new QIND CEO, John- Paul Backwell.

QIND Chairman, Nicolas Link commented, "This is an important realignment which optimizes the QIND and ILUS teams at a time when both companies are closing mammoth deals. A successful next phase for both companies relies heavily on dynamic leadership which maximizes growth and efficiently completes the intense procedural workload required, especially for a company which is soon to be achieving over $100 million in annual revenue and is accelerating towards billions by 2025."

This Press Release does not constitute an offer of any securities for sale.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.

CONTACT
Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: info@qualityindustrialcorp.com
Investor site: https://qualityindustrialcorp.com
Twitter: @ QualityIndCorp @ILUS_INTL

SOURCE: Quality Industrial Corp.

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https://www.accesswire.com/721594/Quality-Industrial-Corp-appoints-John-Paul-Backwell-as-Chief-Executive-Officer

FAQ

Who is the new CEO of Quality Industrial Corp.?

John-Paul Backwell was appointed as the CEO of Quality Industrial Corp. on October 21, 2022.

What is the future strategy for Quality Industrial Corp.?

Quality Industrial Corp. plans to focus on significant acquisitions and aims to transition to a major stock exchange while increasing annual revenue.

When will Quality Industrial Corp. appoint a permanent CEO?

A permanent CEO is expected to be appointed at the beginning of the new year as the company progresses with its acquisitions.

What are the revenue goals for Quality Industrial Corp.?

Quality Industrial Corp. aims to exceed $100 million in annual revenue and reach billions by 2025.