Quality Industrial Corp. announces executive leadership changes and board appointments

Quality Industrial Corp. (OTCID:QIND), a micro-cap company with a market capitalization of $3.89 million, announced several changes to its executive leadership and board of directors, effective August 28, 2025, according to a press release statement included in a recent SEC filing. The company has shown remarkable revenue growth of 367% over the last twelve months, though InvestingPro data indicates ongoing profitability challenges.

The company’s board approved a strategic realignment that included the appointment of Carsten Kjems Falk as Interim Chief Financial Officer and Director. Mr. Falk has served in senior executive roles at the company since 2020. His appointment follows the resignation of Krishnan Krishnamoorthy as Chief Financial Officer. The company stated that Mr. Krishnamoorthy’s resignation was not due to any disagreement with management, operations, policies, or practices, and that he has no outstanding claims or obligations with respect to the company.

Additionally, Sanjeeb Safir has been appointed Chief Operating Officer. Mr. Safir has been Managing Director of Al Shola Al Modea Gas and Distribution LLC since 2008 and oversees the company’s Middle East operations. His employment agreement remains unchanged. Louise Bennett resigned as Chief Operating Officer to facilitate the transition and will receive approximately $60,000 according to a pre-agreed payment schedule. The company noted that her resignation was not the result of any disagreement.

The board also appointed Frederico Figueira de Chaves as Chairman of the Board and Director. Mr. Chaves is currently Interim Chief Financial Officer and Director of Fusion Fuel Green PLC, the company’s majority shareholder, and has held various senior roles at Fusion Fuel. He replaces Nicolas Link, who resigned as Chairman and Director effective immediately. Mr. Link’s resignation was not due to any disagreement, and he will receive approximately $255,000 as part of a defined payment schedule.

John-Paul Backwell, the company’s Chief Executive Officer and CEO of Fusion Fuel Green PLC, was also appointed as a Director.

The company confirmed that there are no family relationships or transactions requiring disclosure between the newly appointed officers and directors and the company.

These changes were disclosed in a Form 8-K filed with the Securities and Exchange Commission.

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