Aluf Holdings Inc. announces the retirement of President Donald C. Bennett

FORT LAUDERDALE, Florida / ACCESSWIRE / June 27, 2024 / Aluf Holdings, Inc. (OTC PINK:AHIX) announced that Donald C. Bennett, Executive Chairman of the Board of Directors (the “Board”) has notified the company of his intention to retire from the Board, effective June 30, 2024. Mr. Bennett has been a member of the Aluf Board of Directors for almost 13 years, and for over 7 years he served as both the President and President of the Company. His decision to retire is not related to any disagreement with the Company, but reflects his desire to end his business career with a well-deserved retirement.

The Board has appointed Teresa McWilliams, the company’s Chief Financial Officer and member of the Board of Directors for over 13 years, as the new Chair of the Board, effective July 1, 2024. During her tenure as Chief Financial Officer, Ms. McWilliams managed Aluf’s existing offering and successfully negotiated acquisition agreements with several operating companies with a long history of successful financial results.

Joseph S. Paresi, currently serving as the company’s Chief Executive Officer, was unanimously elected to the Board of Directors. With over 45 years of experience in high-tech companies, Mr. Paresi has played a key role in over 100 acquisitions and mergers during his career. Currently, he advises Aluf on various business initiatives and actively participates in raising capital to finalize planned acquisitions. Following the successful completion of the initial acquisitions, Mr. Paresi will assume the role of President and Chief Executive Officer, overseeing all operations, including strategic development and corporate governance oversight.

Mr. Paresi commented on his decision to join Aluf, stating: “I believe that the team has managed to identify reputable companies for direct acquisitions without an auction. These companies have solid fundamentals that promise significant growth and more equity. I look forward to executing Aluf’s strategy and integrating these companies to build on their already impressive financial achievements.”

Prior to Aluf, Mr. Paresi served as Corporate Chief Technology Officer at Loral and Lockheed Martin Corporations, was part of the founding team and Corporate Vice President at L-3 Communications (now L-3/Harris), founder of L-3 Security & Detection Systems (acquired by Leidos for $1 billion), and co-founder of L-1 Identity Solutions (acquired by Safran for $1.9 billion) and Integrated Defense and Security Solutions (IDSS) (recently acquired by SureScan Corporation).

Mr. Paresi holds a Bachelor’s and Master’s degree in Electrical Engineering, an MBA in Finance, a Department of Defense Program Management degree, a Secret Clearance, and a Top Secret Special/Setting Information (TS/SCI) qualification.

About Aluf Holdings Inc.:

Aluf Holdings, Inc. is a publicly traded company focused on acquiring, developing and managing a diverse range of potentially high-growth companies and technologies. Focusing on the biotechnology and biometrics industries, the company intends to revolutionize these sectors through innovative solutions and strategic acquisitions.

Contact info:
Teresa McWilliams, Chief Financial Officer
Aluf Holdings, Inc.
866-793-1110

Safe Harbor Statement:

This press release contains “forward-looking statements” within the meaning of Art. 27A of the Securities Act of 1933, as amended, and Art. 21E and/or 27E of the Securities Exchange Act of 1934, which are based on assumptions that may prove to be inaccurate in the future and are subject to significant risks and uncertainties, including statements regarding the company’s future performance and risks and uncertainties detailed since from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be considered forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company’s ability to obtain necessary financing, the retention of key personnel, the timely delivery of inventory from the company’s suppliers, timely product development, product acceptance and the impact of competitive services and products, in addition to general economic risks and uncertainties.

SOURCE: Aluf Holdings, Inc.

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