Tucson-based Bourque Industries Inc. has named an interim CEO and expanded its board following the conviction of its founder and CEO on drunk-driving charges.
Sean Floyd, who joined Bourque in January 2012 as executive vice president, was named interim CEO, the company said in a news release.
Company founder and CEO John M. Bourque was convicted of felony aggravated drunk-driving charges in Pima Superior Court on Wednesday and was taken into custody pending sentencing in March. He potentially faces more than seven years in prison as a repeat offender.
The company said Bourque “has steadfastly maintained his innocence in the matter and has indicated he intends to appeal.”
In addition to Floyd’s appointment, Matt Schissler and Brent Willis were added to the board of Bourque, which has developed a proprietary aluminum alloy for armor plate and other applications.
Schissler was the founder and served as chairman and CEO of Las Vegas-based Cord Blood America Inc. from 2003 to mid-2012.
Willis is a former military officer and former chairman and CEO of Florida-based Liberty Ammunition, which specializes in lead-free ammunition.
The realignment will help Bourque move forward with potential orders and create cash flow, the company said.
Bourque Industries is marketing a nationally certified body-armor plate made from its patented Kryron alloy and is exploring electrical applications for the material.
Orders have been sporadic, but this week, the company announced a $252,000 purchase order from a Chinese company, Shenzhen JBT Electronics Technology Co. LTD, for electrical heat-sink materials for LED (light-emitting diode) lighting.