ROCHESTER, N.Y. — Torvec Inc., a developer of advanced automotive and related energy savings technologies, announced today that Richard Kaplan has been appointed the company’s CEO, effective immediately.

Kaplan is a well-known entrepreneur who specializes in leading startup companies to economic success. He has personally started seven companies and most recently served as the president and CEO of Pictometry International Corp., a leading provider of geo-referenced, aerial image libraries and related software, which he led from a startup to a multimillion dollar global enterprise from 2000 to 2010.

Kaplan was born in Rochester, N.Y. He is the former president of Richland Industries Inc., a retail floor covering chain; chairman and co-founder of Resnick Media Associates Inc., an advertising and marketing agency; chairman and co-founder of Blanton Communications Inc., a computer software company; president of RAK Realty Corp., a real estate development company; chairman and founder of WorkSmart International Inc., a human resource development, publishing and training company for multi-market, multinational corporations and organizations. He was also chairman and founder of Maxim Group Inc., a publicly held company previously listed on the New York Stock Exchange.

Kaplan is on the boards of two startup companies, and is a member of the Board of Trustees of Rochester Institute of Technology and Nazareth College. He is also chairman of the board of advisors at RIT’s Chester F. Carlson Center for Imaging Science as well as serving as a member of the University of Rochester’s Economic Development Board.

Kaplan has an extensive background in economics, accounting, management and executive leadership. He is regularly sought out by startups, universities and other organizations for which he has done private consulting and guest lecturing on marketing, economics and organizational development.

Upon his appointment, Kaplan commented, "I am excited to become CEO of a company possessing such a vast portfolio of advanced automotive and energy saving technologies, and I am looking forward to merging my extensive background in sales, marketing and executive leadership, together with my passion for working with startups, to make Torvec successful. When becoming involved in startup businesses, I consider five criteria in their model: 1. high growth potential; 2. high profit margins; 3. recurring revenue; 4. the existence of proprietary, patent-protected technology; and 5. the existence of technology that can make the world a better place. I believe Torvec has the capacity to meet all five criteria.

"My task is to commercialize the vast technologies possessed by the company and to initially focus the company’s enormous potential on the marketing of its products so that the company can grow and reward its shareholder base for its long and steadfast support of the company and its vision. I intend to hit the ground running by evaluating the entire organization, its products, personnel, direction and financial needs. I will be working 24/7 to make Torvec successful and have some fun in the process," Kaplan said.

Keith Gleasman, Torvec’s president, added: "I am delighted that Dick Kaplan has elected to combine his expertise and executive leadership with our impressive portfolio of advanced technologies. I am especially excited to have the opportunity to work with Dick on a daily basis to market our developed technologies for the benefit of our shareholders, upstate New York and the world."

Torvec’s chairman of board, Gary Siconolfi, said he believes Kaplan is the ideal person to take Torvec to the next level.

"Dick has been called a ‘serial entrepreneur’ a real start-up specialist. Our products, especially our IsoTorque differential, hydraulic pump/motor, infinitely variable transmission and full terrain vehicle (FTV) are ready. His accomplishments are impressive, his personality so engaging and his energy so exciting that, with Dick at the helm, I believe Torvec’s future is very, very bright," Siconolfi said.

To learn more about Torvec, click here.