Quantum Computing, Inc. Announces Retirement of Chief Executive Officer and President Dr. William McGann
Rhea-AI Summary
Quantum Computing Inc. (QUBT) announced that CEO and President Dr. William McGann, 67, will retire effective May 12, 2025. The Board has appointed Dr. Yuping Huang as Interim CEO and President while initiating an executive search process.
Dr. McGann, who joined QCi's board in September 2021 and became CEO in February 2024, led key initiatives including the launch of the Dirac-3 quantum optimization machine and the development of the company's chip foundry. Dr. Huang, currently Chairman of the Board and Chief Quantum Officer, brings over 20 years of experience in quantum and optics technology.
Dr. Huang founded QPhoton Inc. (acquired by QCi in June 2022) and serves as the founding director of the Center for Quantum Science and Engineering at Stevens Institute of Technology. He has managed quantum research initiatives worth over $40 million from various government agencies and private sector partners.
Positive
- Smooth leadership transition with experienced interim CEO already familiar with company operations
- Interim CEO Dr. Huang brings substantial government contracting experience and research funding track record ($40M+)
- Successfully completed chip foundry construction under outgoing CEO
Negative
- Uncertainty during CEO transition period could impact strategic initiatives
- Temporary leadership structure until permanent CEO is appointed
News Market Reaction
On the day this news was published, QUBT declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Dr. Yuping Huang Named Interim CEO and President
Dr. McGann first joined QCi as a member of the board of directors in September 2021 and transitioned to Chief Operating and Technology Officer in January 2022. Since February 2024, he served as CEO and President, where he spearheaded the launch of the Company's Dirac-3 quantum optimization machine, promoted the commercialization of the Company's core technology, and led the development of QCi's chip foundry initiative. Prior to QCi, Dr. McGann served as the Chief Technology Officer for the Security, Detection and Automation business at Leidos Corporation. Previously, he founded Ion Track Instruments, an explosives trace detection company, and held leadership roles as the Chief Technology Officer for GE Security, VP of Engineering for United Technologies Fire and Security business, CEO and board member of Implant Sciences Corp., and the Chief Technology Officer at L3Harris Aviation Security and Detection business.
Speaking on behalf of the Board, Dr. Yuping Huang, Chairman of the Board and Chief Quantum Officer, commented, "Bill has been an outstanding leader, guiding QCi through a period of substantial progress, particularly in launching new products, expanding our marketing and sales teams, completing the construction of our chip foundry, and strengthening our financial position. We are grateful for his contributions and the strong foundation he has built for the company's future."
Reflecting on his decision to retire as CEO, Dr. McGann stated, "It has been an honor to lead QCi alongside such a dedicated team. Together, we've made strides in advancing the Company's mission and delivering quantum technologies that address real-world problems today. I'm deeply grateful to our employees, shareholders, and partners, and I look forward to continuing to watch the Company's journey of putting photons to work."
Dr. Yuping Huang brings over 20 years of pioneering research and leadership in quantum and optics technology. He currently serves as Chairman of the Board and Chief Quantum Officer for QCi, where he leads the development of the Company's advanced quantum technologies and product roadmap. Prior to QCi, Dr. Huang founded QPhoton, Inc., a company focused on commercializing quantum devices that QCi acquired through a merger in June 2022. He is also the founding director of the Center for Quantum Science and Engineering and the Viola W. and Elbert C. Brinning Endowed Professor at Stevens Institute of Technology. Earlier in his career, he served as a research faculty member and principal investigator at Northwestern University. Dr. Huang has successfully led a portfolio of quantum research initiatives totaling over
About Quantum Computing Inc.
Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi's products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technologies and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications.
Company Contact:
Rosalyn Christian/John Nesbett
IMS Investor Relations
qci@imsinvestorrelations.com
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SOURCE Quantum Computing Inc.
FAQ
When will Dr. William McGann retire as CEO of Quantum Computing Inc. (QUBT)?
Who is the interim CEO appointed to replace Dr. McGann at QUBT?
What major achievements did Dr. McGann accomplish during his tenure at QUBT?
What is Dr. Yuping Huang's background and experience before joining QUBT?
