FAIRFIELD, Conn., Oct. 4, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (CTT) (AMEX:CTT) today announced that Richard E. Carver, 64, has been elected Chairman of CTT's Board of Directors.
Mr. Carver currently serves as President and Chief Executive Officer of MST America, an international business strategies consultancy (Jan. 1995 - present). Prior experience includes serving as President and CEO of RPP America, a solid waste wrapping systems company (Nov. 1998 - April 2000); President and CEO of Zeppelin of North America, a manufacturer of spun-metal parts for space applications -- shuttles, satellites and launch vehicles (June 1994 - Dec. 1995); President and CEO of ZF Industries, a division of ZFAG/Germany, a manufacturer of driveline, steering and suspension components for automotive and machinery manufacturers (May 1988 - Dec. 1994); and as Chairman and Chief Executive of Carver Lumber Company, a provider of building materials for new home construction and prefabrication (May 1988 - Dec. 1999).
Mr. Carver served as Assistant Secretary of the Air Force during the administration of U.S. President Ronald Reagan, and was also the Mayor of Peoria, Illinois from 1973 - 1984.
Frank R. McPike, Jr., President and CEO of Competitive Technologies commented that, "Mr. Carver has had a distinguished career in both the public and private sectors. The breadth of his knowledge brings a broad perspective to his position as Chairman of CTT's Board and a strong voice of experience as we move forward."
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Arizona, the University of Colorado, the University of Illinois, Digital Ink, Inc., NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's most recent Form 10-K and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.