Questor Technology Inc. (TSX‑V: QST) announced on July 16, 2026 that it has created a special committee of independent directors to manage the company’s leadership transition and to review strategic alternatives. The move comes after former President and CEO Audrey Mascarenhas filed two lawsuits against the company and its board.

The special committee, established on June 11, 2026, is chaired by Paul Huizinga and includes Bastien Commet, Saj Shapiro and Jason Smith, all independent directors. The committee has been granted full authority to retain financial, legal and other advisors as it conducts the search for a new permanent chief executive officer and evaluates potential strategic options. According to the company’s press release, no decisions regarding a new CEO or any strategic alternative have yet been taken, and the company has not received any proposals for a going‑private transaction or other deal.

Mascarenhas’s legal actions were filed in the Court of King’s Bench of Alberta. The first statement of claim alleges oppression, wrongful termination and related claims, seeking relief totaling more than $26 million against Questor, its independent directors and its chief financial officer. The second claim alleges wrongful termination and seeks an amount equal to 26 months of Mascarenhas’s total compensation plus additional damages. The board and management dispute the allegations and intend to defend the interests of the company and its shareholders.

Questor, founded in 1994, is an environmental emissions‑reduction technology company headquartered in Calgary. Its core product line consists of high‑efficiency clean combustion systems that destroy methane, hydrogen sulfide, volatile organic hydrocarbons, hazardous air pollutants and BTEX gases from waste gas streams with over 99.99 % efficiency, as certified under ISO 14034. The company also develops proprietary heat‑to‑power generation technology and is expanding into markets such as landfill biogas, syngas, waste engine exhaust, geothermal, solar and cement‑plant waste heat. Questor’s technology is positioned to help industrial clients meet emission regulations, reduce greenhouse‑gas emissions and achieve net‑zero targets.

The company’s shares trade on the TSX Venture Exchange under the ticker QST. Its corporate and registered office is located at 1920, 707‑8th Avenue S.W., Calgary, Alberta. The company’s chief financial officer, Aly Sumar, is the contact for investor relations.

While the special committee is actively overseeing the CEO search, the company has not yet made any public statements about a potential new leader or a strategic direction. The board has indicated that it will continue to provide updates on the CEO search and strategy refresh process in accordance with applicable securities laws and as developments warrant. No assurances have been given that any strategic alternative will be identified or pursued.

In the absence of a new CEO or a strategic transaction, Questor’s focus remains on maintaining operational stability and supporting its existing product pipeline. The company has not disclosed any changes to its business plan or financial outlook, and it has not announced any new capital‑raising activities.

The current situation leaves several questions unresolved. The outcome of Mascarenhas’s claims, the timeline for appointing a new CEO, and the possibility of a strategic alternative such as a merger or acquisition remain unknown. Investors will likely watch for the next board meeting and any regulatory filings that may provide additional clarity.

In summary, Questor Technology has set up a special committee to guide its leadership transition and strategy review amid ongoing legal proceedings. The company has not yet chosen a new CEO or pursued a strategic transaction, and it will continue to update stakeholders as the process unfolds.