Bourque Industries, Inc. Announces Restructure And Expansion Of Its Board Of Directors And Selection Of A New Interim Chief Executive Officer

Feb 07, 2013, 08:34 ET from Bourque Industries, Inc.

TUCSON, Ariz., Feb. 7, 2013 /PRNewswire/ -- Bourque Industries, Inc. (OTC: BORK), a development stage company in the process of commercializing its patented Kryron metal-alloying process using nanotechnology to fundamentally alter common metals at the molecular level to create ultra-high performing super alloys, announced this morning a restructuring and expansion of its Board of Directors and appointment of a new interim Chief Executive Officer.

The Board of Directors was expanded from three to five seats, and an invitation to join the Board was extended to Matt Schissler and to Brent Willis.   Mr. Schissler has already accepted the invitation, and the Board believes it likely that Mr. Willis will also accept. Sean Floyd was elevated to Chief Executive Officer, and John Bourque, the Founder of the Company and the inventor of its technology, was reposition as Chief Scientist.

Matthew L. Schissler  was the founder and served as Chairman of the Board and Chief Executive Officer of Cord Blood American, Inc., a company specializing in the harvesting and storage of Stem Cells in the US and abroad, from 2003 through the middle of 2012.  In this capacity he was responsible for a series of public and private offering which raised substantial amounts of capital for Cord Blood America and its business.

From April 2001 until January 2003, Mr. Schissler was the President and Chief Executive Officer of Rain, an advertising agency which he founded.  From 1994 through March 2001, Mr. Schissler held various management sales positions at TMP Worldwide, Inc., a personnel staffing company.

Brent Willis is a decorated former Military Officer and successful business leader.  From 2010 to 2012 he served as the Chief Executive Officer and Chairman of the Board of Liberty Ammunition, a private later-stage start-up company which has developed and is commercializing its product portfolio and technologies.  Liberty is in possession of world-leading, high-performance, lead-free rifle and handgun ammunition that is industry disruptive and transformative in capabilities for US soldiers and their closest allies.  Liberty under Mr. Willis' helm was awarded a patent on firearm projectile technologies and filed for five additional patents for further embodiments on its initial patent for both rifle and handgun ammunition.

From 2006 to 2008 Mr. Willis served as CEO for Cott Corporation, a Company in the business of beverage manufacturing and sales.  Mr. Willis' duties included leadership of this roughly $2Billion enterprise, management of more than 20 manufacturing plants, and leadership of more than 10,000 people.  

From 2002 to 2006 Mr. Willis served as Chief Commercial Officer and President for InBev, a company in the business of beverage manufacturing and sales.  Mr. Willis' duties included leadership of top-line growth for this more than $20 Billion enterprise, management of more than 20 manufacturing plants and a sales and marketing budget of more than €3.3 billion and leadership of more than 20,000 people. 

From 1996 to 2001 Mr. Willis served as President North Latin America for The Coca-Cola Company, a company in the business of beverage manufacturing and sales.  Mr. Willis' duties included leadership of this roughly $2Billion enterprise, management of more than 40 manufacturing plants and leadership of more than 20,000 people.

Mr. Willis began his career as a Second Lieutenant in the United States Army in 1982. He served in various combat arms leadership capacities around the world including assignments in the 1st Cavalry Division and the Pentagon.  He worked on the Strategic Defense Initiative (Star Wars) and numerous other compartmentalized (black ops) programs including the Army Robotics Initiatives and Unmanned Aerial Vehicle initiatives.  He authored the Counter-Air Concept to change the role of Air Defense which was later adopted as doctrine.  He received numerous decorations, including two Meritorious Service Medals, two Army Commendation Medals, the Army Achievement Medal, and the Airborne Parachutist badge during his military career; he was honorably discharged with the rank of Captain. 

He received his BS. Degree in Engineering from the US Military Academy at West Point and an MBA Degree from the University of Chicago. 

Sean Floyd has been elected Interim Chief Executive Officer of the Company.  Mr. Floyd has been serving as Executive Vice President for Bourque Industries, Inc. since January of last year.  From January 2003 to 2012 he founded and operated 5th Avenue Media/Marketing/Photography a company specializing in photography, props for magazine publishing companies, newspaper advertisements, celebrity portfolios/ weddings, Web Design and E Commerce, for clients such as Porsche, Nissan, Rooms to Go, PGA Golf, Century 21 and WCI.

The Change in Officers became necessary with the decision by a Tucson jury on Wednesday to find Mr. Bourque guilty on two counts of drunk driving stemming from an incident which occurred back in 2009.   The charges did not involve moral turpitude, but under stiff Arizona DUI laws the charges could result in Mr. Bourque's serving a significant sentence.  A sentencing hearing is scheduled for March.  Mr. Bourque has steadfastly maintained his innocence in the matter and has indicated he intends to appeal.  As a result, the consequences of the jury's decision on the availability of Mr. Bourque to carry on as Chief Scientist and director of the Company are at this date uncertain.

Company management is optimistic that this restructuring and expansion of the Board of Directors and realignment of officers will assist the Company in moving forward quickly from this point to commercialize its Kryron products, close on potential orders, and book sales and create cash flow, whether or not continuing day to day services from the Company's inventor are interrupted.

This communication to shareholders and the public contains certain forward-looking statements. Sometimes these statements will contain words such as "believes," "expects," "intends," "should," "will," "plans,", " is optimistic",  and other similar words. The events described in these forward looking statements are not certain to occur. These statements are only predictions and involve known and unknown risks, uncertainties and many factors beyond our control. Although forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment, actual results could differ materially from those anticipated in such statements.

SOURCE Bourque Industries, Inc.