The timing of these appointments was a surprise but not the appointments themselves as Dean forecast these several times in CC calls:
Dean said we have a new COO coming in July 1st with an extensive background in the Aerospace Industry. He also said we will a new CFO that will handle the financial aspects of the company.
Considering Dean’s age, what are plans for succession? Dean says he isn't going anywhere, but an employment agreement has been signed already for a person starting July 1st as the new President and Chief Operation Officer (COO) of Quasar. He is a brilliant Aerospace Executive. His credentials are absolutely impeccable. Dean will remain as Chairman and CEO however he will remain in the background from the standpoint of operations, focusing on funding and corporate governance, and we will have a new CFO coming onboard as well to take over the accounting. Dean says the company will expand dramatically in the next few weeks that it would be impossible for Dean to carry on without that kind of help.