FAIRFIELD, Conn., Dec. 9, 2011 (GLOBE NEWSWIRE) -- Competitive Technologies, Inc. (OTCQX:CTTC) today announced that Rustin R. Howard, who has served as a Director of CTTC since October of 2007, has been elected Chairman of its Board of Directors, effective immediately. William Reali, who had served as Chairman since September 2010, resigned his position as Chairman, stating his desire to devote more time to his accounting business and his family. Mr. Reali will remain a member of CTTC's Board.
"We are grateful to Mr. Reali for his leadership during a period of restructuring the Company," said Mr. Howard. "His business acumen has served us well over the past fifteen months as we worked through challenging personnel and legal issues."
Mr. Howard is the Chairman of DeepGulf, Inc., based in Pensacola, Florida. Mr. Reali is a Certified Public Accountant with the firm of Reali, Giampetro and Scott in Canfield, Ohio.
About Competitive Technologies, Inc
Competitive Technologies is a global leader in developing and commercializing innovative products and technologies. CTTC is multifaceted, providing distribution, patent and technology transfer, sales and licensing services. CTTC's staff is focused on the needs of customers and matching those requirements with commercially viable products or technology solutions.
CTTC is the licensed worldwide distributor of the non-invasive Calmare® pain therapy medical device, which incorporates the biophysical "Scrambler Therapy™" technology developed in Italy by CTTC's client, Professor Giuseppe Marineo, to treat neuropathic pain, including cancer pain. The Calmare® device is currently being manufactured for sale by CTTC's partner, GEOMC Co., Ltd. of Seoul, Korea. For more information on the device, visit www.calmarett.com. Visit CTTC's website: www.competitivetech.net.
Statements made about our future expectations are forward-looking statements and subject to risks and uncertainties as described in our most recent Annual Report on Form 10-K for the year ended July 31, 2010, filed with the SEC on October 27, 2010, and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.