Quality Products Announces Appointment of President
COLUMBUS, Ohio--(BUSINESS WIRE)--Quality Products, Inc. (Pink Sheets: QPDC), a manufacturer and distributor of aircraft ground support equipment and hydraulic machine tools, is pleased to announce the appointment of David Somers to the position of President of the company. Mr. Somers will report to Richard Drexler, who will continue as CEO and Chairman of the Board of Quality Products, Inc. Mr. Somers had previously been a consultant to the company since mid-January 2014.
“I look forward to the opportunity here. The company has an amazing foundation on which to build. The current operating companies have delivered terrific results, and we will look to continue that moving forward.”
Commenting on the appointment, Mr. Drexler said, "I am pleased to bring David aboard. As we continue to grow the company, his primary focus will be on growth through acquisitions and integrating those acquisitions under the Quality Products umbrella. He will also help drive strategic initiatives and management development in our current operations. I have gotten to know David well over the past six months, and am confident he will be a terrific addition to Quality Products."
Mr. Somers added, "I look forward to the opportunity here. The company has an amazing foundation on which to build. The current operating companies have delivered terrific results, and we will look to continue that moving forward."
Mr Somers has several decades of experience in operations management, strategic consulting and investment management. He was most recently the CFO of AnswersMedia, LLC. Prior to that he was an investment analyst with several different firms, covering many industries. He was also a management consultant with Booz Allen & Hamilton for eight years. Mr. Somers has an MBA from Harvard University and a Mechanical Engineering degree from Yale University.
This press release, other than the historical information, consists of "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995), which are identified by the use of words such as "believes", "expects", "projects", and similar expressions. While these statements reflect the Company's current beliefs and are based on assumptions that the Company believes are reasonable, they are subject to uncertainties and risks that could cause actual results to differ materially from anticipated results.