SOURCE: Torvec Inc.

Torvec Inc.

October 20, 2010 09:59 ET

Torvec Appoints Robert W. Fishback Chief Financial Officer

ROCHESTER, NY--(Marketwire - October 20, 2010) -  Richard A. Kaplan, Chief Executive Officer of Torvec, Inc. (OTCBB: TOVC) announced today that Robert W. Fishback has been appointed the company's Chief Financial Officer, effective immediately.

A financial consultant to Torvec from July 2010, Mr. Fishback served as Vice President - Finance, Chief Financial Officer and Treasurer of Ultralife Corporation, Newark, New York, from 1999 to 2009, overseeing corporate growth from $20 million to more than $250 million in revenues. Previously, he served as Controller at ITT Industries, Inc. (formerly Goulds Pumps, Inc), Seneca Falls, New York, and in various corporate financial management positions at Frontier Corporation, Rochester, New York.

Mr. Fishback is a CPA and received an MBA in Finance from SUNY - Buffalo. He spent three years in public accounting with Deloitte & Touche LLP prior to joining the private sector in 1983.

In announcing the appointment, Mr. Kaplan commented: "Bob will bring senior financial executive leadership to Torvec and provide the company with increased finance and accounting focus. His responsibilities will include business and financial system implementations, financial and public company controls and reporting, as well as assisting management in the development and implementation of business strategies. We expect his appointment to result in reduced expenses due to our previous reliance on outside consultants for such financial services. We are delighted to have him aboard."

This press release contains forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those described in such statements. Such risks and uncertainties include those described from time to time in Torvec's SEC reports, including its most recent Report on Form 10-K. The Company assumes no duty to update its forward looking statements.

About Torvec, Inc.

Torvec, Inc. is a publicly traded company that develops advanced automotive and related energy saving technologies that increase transportation safety, mobility, fuel efficiency and reduce pollutants. Torvec's chief products and intellectual property include its Full Terrain Vehicle (FTV®), infinitely variable transmission, IsoTorque® differential and hydraulic pump and motor. For additional information, please visit www.torvec.com.

Contact Information

  • Contact:
    Dick Sullivan
    585-254-1100