Anyone see this PR that came out a few minutes ago?
Company Preparing to Expand Board and Bolster its Management Team
JUPITER, FL / ACCESSWIRE / January 5, 2022 / Transportation and Logistics Systems, Inc. (OTCQB:TLSS), ("TLSS", or the "Company"), a growing logistics provider, announced today that, effective as of January 4, 2022, Mr. Sebastian Giordano, who has been acting as a restructuring consultant to the Company through his C-level business advisory firm, Ascentaur LLC ("Ascentaur") since February 2020, became the Company's Executive Chairman and Chief Executive Officer as well as a member of the Board of Directors. The move is anticipated to be the first of several upcoming enhancements to the Company's Board of Directors and executive management team.
Mr. John Mercadante, former Chairman and CEO of TLSS, who will stay on as a member of the Board of Directors, stated "since the Company engaged Ascentaur in 2020, Sebastian has done an outstanding job of advising the Board on its restructuring initiatives and then successfully executing them, as well as simultaneously helping to identify potential acquisition opportunities. The Board strongly believes that the Company will benefit greatly from Sebastian's proven leadership skills, as well as his extensive strategic, financial and operational acumen, that the Company believes, are ideally suited to guide the Company on a growth trajectory."
Mr. Giordano's experience as a corporate executive, consultant, and entrepreneur, includes serving as Chief Executive Officer, Chief Financial Officer, Chief Restructuring Officer and Board Member of OTC and NASDAQ-listed companies and encompasses extensive M&A and capital raising transaction experience.
Mr. Giordano added, "I am honored by the Board's invitation to assume these roles within the organization and very appreciative of the Company's support. The opportunities in the transportation and logistics industry today are significant and the Company has every intention of pursuing them aggressively, but prudently. The overriding priority is clear - to build a sustainable, profitable business to enhance shareholder value."
