SUNRISE, FL--(Marketwired - Jul 15, 2014) - Fuelstream, Inc.'s (OTCQB: FLST) ("Fuelstream" or the "Company") Board of Directors announced today that Thomas McConnell has been named its Chief Executive Officer and Secretary, effective June 25. Mr. McConnell is currently a director of the Company, and is an executive in the custom home business. Mr. McConnell succeeds John D. Thomas, who was appointed the Company's interim Chief Executive Officer and Secretary on April 3, 2013.
Mr. McConnell, who was appointed to the Board of Fuelstream on November 30, 2012, is an accomplished business leader who brings an ideal combination of financial and operational acumen, significant experience in project management, and expertise in financial management, business planning, and risk management. Mr. McConnell has agreed to a compensation package with an accrued salary payable by bank wire, check, or convertible into shares of Fuelstream stock.
"Tom is a highly respected and dynamic leader, whom we believe can deliver superior shareholder returns and financial performance. Fuelstream has benefited greatly from his insights and guidance on the Board, and we are pleased that his significant skills will continue to benefit Fuelstream employees, shareholders, and customers as he works to accelerate the momentum in our business," said Kevin Blanco.
"Fuelstream is on its way to becoming a unique, global business with strong market positions in key regions and a well-balanced geographic footprint. I am excited by the many significant growth opportunities that lie ahead and am fully focused on making Fuelstream one of the best names in the business. The opportunity to advance this great company and improve returns is a tremendous privilege. I look forward to working with all stakeholders to take Fuelstream forward," said Mr. McConnell.
Fuelstream is an operating fuel logistics company that concentrates its supply chain management efforts in the distribution of aviation fuel to corporate, commercial, military, and privately-owned aircraft throughout the world. Currently, a majority of the Company's fuel and related services are concentrated in the sourcing, purchase and delivery of (Jet-A) fuel "into the wing" of private and commercial aircraft at various airports. With offices in Sunrise, Florida and Johannesburg, South Africa, the Company intends to supply a variety of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals, and third-party invoice reconciliations. For more information please visit www.thefuelstream.com.
Safe Harbor and Forward-Looking Statements
This press release contains certain forward-looking statements regarding possible future circumstances. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, any risks and uncertainties with respect to the Company's operations, as well as those contained in the Company's quarterly, annual, and periodic filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.