Torvec Names Mary Ho and Philip Fain to Board of Directors
ROCHESTER, N.Y., March 30 -- Torvec, Inc. (BULLETIN BOARD: TOVC.OB) announced today that effective March 29, 2005, Mary Ho and Philip A. Fain were elected to its Board of Directors.
Mary Ho is President of the China Millennium Council, a globally recognized enterprise dedicated to fostering and developing innovative cultural, educational and community partnerships with China. A renowned expert in international negotiation, Ms. Ho has extensive experience in international public relations, corporate strategy development and transition management. Linking clients with their global counterparts in the US, China, the Pacific Rim, Central America and Europe, she develops cross-cultural business communication and diversity competency programs for CEO's of Fortune 100 firms, business executives, governments, health care industries and academic institutions. Noted clients include B. Thomas Golisano, retired Chairman and CEO of Paychex, Inc.; Thomas Watson, Jr., retired Chairman and CEO of IBM; George M. C. Fisher, Chairman of the National Academy of Engineering and retired Chairman and CEO of Eastman Kodak; Xerox Corporation and Ford Motor Company.
Ms. Ho also serves as a Research Associate Professor at the Rochester Institute of Technology, College of Business, Center for International Business and Economic Growth. Her research and teaching focus on empowerment and alliances, multinational resolve and arbitration, and global ethics leadership. She holds degrees from the University of Rochester and Cornell University.
In accepting her position as a Director of Torvec, Ms. Ho stated, "Torvec's technology portfolio is ideally suited for the markets of China and Southeast Asia. I look forward to assisting Torvec in commercializing their products in these emerging markets."
Philip Fain, Torvec's Chief Executive Officer, was also named to the Board of Directors. Phil was appointed CEO on March 3, 2005.
Read D. McNamara, Chairman of the Board of Torvec, remarked, "We are delighted that Mary Ho and Phil Fain have agreed to join our Board. Their credentials are impeccable and records of success well documented. Ms. Ho's presence gives Torvec the strategic depth to more effectively penetrate China and the nations of the Pacific Rim. Phil's outstanding leadership, international finance and business development skills, including negotiating and consummating complex transactions on a global basis, are needed now more than ever at both the CEO and Board level."
McNamara reiterated, "The composition of our Board of Directors, coupled with the strength and depth of our Management Team, will sharpen the Company's focus on its number one mission: enhancing shareholder value through the commercialization of all of our technologies."
Torvec, Inc. specializes in automotive and related technology. The company holds numerous US and international patents protecting inventions such as a steering drive and suspension system for tracked vehicles, infinitely variable transmission, hydraulic pump and motor, constant velocity joint and spherical gearing. For additional information and presentations, please visit Torvec's website at http://www.torvec.com/.
This news release contains forward-looking statements that are based on current expectations, estimates and projections about the company and its plans for future operation, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," intends," "plans," "believes," "seeks," "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.