Quantum Computing Inc. Appoints Michael C. Turmelle to its Board of Directors

Rhea-AI Summary

Quantum Computing Inc. (QUBT) has appointed Michael C. Turmelle to its board of directors, enhancing its leadership with his extensive experience in finance and operations within technology companies. Turmelle aims to leverage his background to drive innovative solutions and support QCI's mission in delivering quantum computing advantages to business users. His track record includes significant revenue growth and operational efficiency at previous companies. Quantum Computing Inc. focuses on bridging classical and quantum computing for practical business applications.

Positive

• Michael C. Turmelle's appointment expected to bring valuable insights and leadership experience.
• Proven ability to drive revenue growth, as evidenced by previous roles.

Negative

• None.

LEESBURG, Va., Jan. 04, 2022 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (QCI) (Nasdaq: QUBT), a leader in bridging the power of classical and quantum computing, has appointed Michael C. Turmelle to serve on the company’s board of directors.

Turmelle brings years of public company executive experience, as well as an extensive background in finance and operations in technology-based companies. He has vast expertise in devising innovative business solutions to successfully deliver profitable outcomes. He has delivered financial and operational leadership across a variety of organizations and markets, and is a proven board member, having served on numerous boards of directors.

“I am pleased to be asked to sit on the Board of Directors at Quantum Computing, Inc.” said Turmelle. “The opportunity to work with such a talented team with the ability to address real world complex issues is quite exciting. I am looking forward to supporting the business in its critical mission to provide powerful quantum solutions.”

Prior to joining QCI’s board, Turmelle was appointed Chairman of the Board for Ideal Power, where he is actively involved in transitioning the company from an inverter to a power semiconductor switch company. He also served as Chair of the Audit Committee at Ideal Power for over four years. Turmelle spent time as the Managing Director of Hayward Tyler, which designs, manufactures and services performance-critical electric motors and pumps. Michael led initiatives that boosted revenues by 50%, enhanced operating profit and slashed lead-time by 85%.

“QCI’s goal is to deliver quantum computing value to business users today,” said Robert Liscouski, chairman, president, and CEO of QCI. “We have a unique opportunity to accelerate the adoption and delivered value of quantum computing, offering today’s IT users and business experts the benefits of quantum computing to solve real world business problems. We are excited to have Michael join our team. We expect his proven savvy in driving innovative go-to-market and product strategies to fuel QCI’s ongoing profitable growth.”

Previously, Turmelle ran his own consulting company working with start-ups in the areas of renewable energy, medical and other advanced technologies. Mr. Turmelle has served on numerous Board of Directors, including the Board of Directors of Implant Sciences Corp., an explosive and narcotic trace detection company, where he served as Chairman of the Board from 2015 to 2017. Turmelle was Chief Financial Officer and Chief Operating Officer and a member of the Board of Directors of SatCon. He was also on the Board of Directors of Beacon Power, a SatCon spin-off company dealing in flywheel energy storage.

Mr. Turmelle has a BA in Economics from Amherst College and is a graduate of General Electric’s Financial Management Program.

About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (Nasdaq: QUBT) is focused on accelerating the value of quantum computing for real-world business solutions. The company’s flagship product, Qatalyst, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering SMEs to solve complex computational problems today. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; from leading edge supercomputing innovations, to massively parallel programming, to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about QCI, visit www.quantumcomputinginc.com.

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing (“Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995.

Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” “aim to,” or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.

Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.

Company Contact:
Robert Liscouski, CEO
Quantum Computing, Inc.
+1 (703) 436-2161
Email Contact

Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
Email Contact

Media Relations Contact:
Bob Geller
Fusion Public Relations
+1 (917) 816-0562
qci@fusionpr.com

FAQ

Who is Michael C. Turmelle and what experience does he bring to Quantum Computing Inc.?

Michael C. Turmelle is a newly appointed board member of Quantum Computing Inc. He has extensive experience in finance and technology operations, previously boosting revenues by 50% in past roles.

What is Quantum Computing Inc.'s mission following the appointment of Michael C. Turmelle?

Quantum Computing Inc. aims to accelerate the adoption of quantum computing solutions for business users, leveraging Turmelle's expertise to enhance their strategies.

How will Michael C. Turmelle's appointment impact QUBT's stock performance?

While it’s uncertain how the appointment will directly impact stock performance, Turmelle's leadership experience may foster growth and innovation at Quantum Computing Inc.

What is the significance of Turmelle's previous roles for Quantum Computing Inc.?

Turmelle's history of successful revenue growth and operational leadership in technology companies suggests he may implement effective strategies that could enhance QCI's business outcomes.