| Message
from new CEO, Philip Fain
It
is a pleasure to address you for the first time as CEO
of Torvec, Inc. The Board of Directors’ confidence
in my ability to move the company from a development
stage organization to a revenue-generating operating
enterprise is greatly appreciated. Rest assured I will
do everything in my power to warrant that trust and
confidence by achieving the objective our Torvec Management
Team is closing in on; namely, the commercialization
of one or more of our technologies, resulting in the
creation of shareholder wealth.
This transition of leadership comes at a very exciting
time in Torvec’s history. We have a strong and
deep management team in place, an expanding Board, which
is attracting top-flight talent, and an operating structure
that allows us to pursue multiple initiatives simultaneously.
As we speak, Torvec has more exciting developments in
an advanced stage than at any other time in its history.
The final stages of IVT testing in the Tahoe, the DARPA
Grand Challenge we are undertaking with the MotoTron
subsidiary of the venerable Brunswick Corporation, and
global interest in our entire portfolio of technologies,
including our Iso-Torque differential, all make me feel
privileged to take the reins of Torvec at this critical
juncture.
My
pledge to you is that I will dedicate myself, and guide
our team, to the single most important goal, a goal
upon which we focus like a laser: the creation of shareholder
wealth through the commercialization of our technology.
I look forward to communicating with you on a timely
basis and keeping you informed of our progress. |
Message
from former CEO, Richard Ottalagana
On
March 3rd, the mantle of leadership at Torvec was passed
to my colleague and friend, Phil Fain. The transition
is a very positive development for Torvec, as it signals
the Company’s readiness to commence the transition
from a development stage company to a commercial enterprise.
It is the logical time to install executive leadership
that has the skills and experience necessary to negotiate
and consummate transactions on a global basis. Knowing
my CXO Partner as I do, Phil brings all the credentials
necessary to make this happen.
I
am truly excited at our prospects, as increasing interest
in several of our platforms is now occurring on a worldwide
basis. I will by no means lessen my involvement in Torvec.
To the contrary, the recent surge of interest in our
Iso-Torque differential has captured my attention, and
I intend to dedicate my time, energy and skills to globally
market our high performance, low cost differential.
As
the transformation of our business commences, I have
the highest level of confidence that Phil will do an
outstanding job in negotiating the optimal transactions
for our shareholders. I stand ready to help him in any
way I can.
It
has been an honor to serve as your CEO. I am very pleased
with our progress, and I look forward to continuing
to contribute to this great Company. |
