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http://biz.yahoo.com/prnews/060317/phf008.html?.v=47
SSTY Chooses Philadelphia Executive to Build on the Success of Its Chinese Joint Venture
Friday March 17, 9:14 am ET
Richard A. Bendis to Take Helm of Global Technology Company; Named President/CEO of True Product ID, Inc.
PHILADELPHIA, March 17 /PRNewswire-FirstCall/ -- Sure Trace Security Corporation (OTC: SSTY - News) today announced the appointment of Richard A. Bendis as president and CEO of True Product ID, Inc. (TPID). Mr. Bendis was most recently president and CEO of Innovation Philadelphia (IP), a regional technology-based economic development organization, and he will remain a member of the board of directors of Innovation Philadelphia. Bendis brings to TPID a long and distinguished career as entrepreneur, corporate executive, venture capitalist, investment banker, and consultant in the technology and healthcare industries. He is an international business consultant and featured speaker to the United Nations, NATO, the European Commission, MITI, and global technology-based enterprises and countries.
James MacKay, Chairman of both SSTY and TPID, said: "Over the last two years in China we have built a solid foundation. From being invited to The People's Great Hall, to joint ventures with government agencies, to the signing of contracts. The government of China is fully committed to leading the way to establishing a world standard for authentication and anti- counterfeiting of all goods. And only through a world standard can we protect the safety of the peoples of the world and their governments. Governments lose through loss of income from taxes. Terrorists use counterfeit goods to fund their activities. People lose out through loss of jobs, and the increased cost of goods due to counterfeiting. More importantly, people's lives are lost due to fake products and fake pharmaceuticals. With Rich, we can now help build a world standard with China and the US leading the way. At the same time, we will bring employment and commerce to Philadelphia and the US. Only China and the US working together can achieve a world standard, and Rich is the person to help deliver it. This world standard is being built in the spirit of the Chinese Olympics: 'One World - One Standard.'"
Judith Rodin, President of the Rockefeller Foundation, President Emerita of the University of Pennsylvania and former Board Chair of Innovation Philadelphia, commented, "Rich Bendis is a very innovative global business leader who understands that implementation is the key to a successful organization. In the last four years, I personally watched as he built an organization that has successfully delivered exceptional results and received global recognition."
MacKay added: "Rich Bendis has the global marketing, global business expertise and global network that will contribute to our vision of becoming the world leader in the provision of anti-counterfeiting, brand and product authentication, and security products and services."
As president and CEO of True Product ID, Mr. Bendis will operate from the firm's newly established Philadelphia headquarters and lead the efforts for expanding the company's global presence as it capitalizes on the growing international market for anti-counterfeiting and security surveillance applications. The technology has applications across multiple industries and geographies. The International Chamber of Commerce estimates that seven percent of world trade are in counterfeit goods and that the counterfeit market is worth over $350 billion. This results in the loss of millions of dollars in tax revenues and tens of thousands of jobs due to the manufacture, distribution and sale of counterfeit goods. True Product ID has developed technologies and related strategies to address the global threat posed by counterfeiting.
"This is a great opportunity to develop True Product ID globally. The technology, the industry, the potential market product growth, and the entrepreneurial spirit of the company attracted me to this venture. I am especially pleased that True Products ID will become a Philadelphia-based company and there will be job growth and expansion in the future that will further strengthen Philadelphia's position in the global Knowledge Economy," stated Bendis.
Prior to his appointment as IP's first President and CEO, Bendis for the past twenty-five years has been Chairman, President, or CEO of both public and private enterprises. He successfully leveraged a career in the private sector with companies including Quaker Oats, Polaroid, Texas Instruments, Marion Laboratories and Kimberly Services and in the venture capital industry to establish his own successful venture capital firm, RAB Ventures, which made 15 investments in early-stage technology and healthcare companies. Bendis also successfully built an Inc. 500 healthcare software company, Continental Healthcare Systems, Inc., which he took public on the NASDAQ and later sold to an international conglomerate.
As a leader who knows how to build and launch successful organizations, he built the Kansas Technology Enterprise Corporation (KTEC) into a globally recognized model for technology-based economic development.
Mr. Bendis was recruited to Philadelphia in 2001 to serve as president and CEO of Innovation Philadelphia, a public/private partnership dedicated to growing the wealth and the workforce of the Greater Philadelphia Region. Under his leadership, Innovation Philadelphia stimulated the local technology scene for the Greater Philadelphia region by establishing new and innovative programs in four distinct areas: Direct Equity Investment/Financing Assistance; Technology Commercialization; Global and Regional Economic Development; and Market Research and Branding Philadelphia as a global Knowledge Economy leader.
Mr. Bendis currently serves on the board of directors and is Chair of the Audit Committee and of PDG Environmental, Inc. PDG Environmental, Inc., headquartered in Pittsburgh, PA, is a leading provider of specialty contracting services to commercial, industrial and governmental clients nationwide through 18 U.S. offices.
Mr. Bendis currently serves or has served as a member of the following international, national and regional organizations including: the Council on Competitiveness, Eisenhower Fellowships Nominating Committee, founding member and Board Member of the National Association of Seed and Venture Funds (NASVF), Science Parks and Innovation Center Expert Group (SPICE), founding member and Board Member - State Science and Technology Institute, American Association for the Advancement of Science, Governor's Appointee, member of the executive committee for the National Governors' Association and Science and Technology Council, The New York Academy of Sciences, National Business Incubation Association, executive committee Greater Philadelphia Global Partners, executive marketing and international committee for Philadelphia Convention and Visitors Bureau, UNESCO Philadelphia Executive Committee, World Trade Centers of Greater Philadelphia, Temple University Center for International Business and Research (CIBER), and the Drexel University Laurence A. Baiada Center for Entrepreneurship in Technology.
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