Robert Storey Joins VIC Technology Venture Development™ as Executive in Residence
Executive with over 30 Years’ Experience Will Help Create New Science and Engineering Based Technology Companies
FAYETTEVILLE, Ark.– FEBRUARY 14, 2013 – VIC Technology Venture Development (VIC) is pleased to announce that Robert (Bob) Storey has joined the company as Executive in Residence. Mr. Storey will assist in the assessment and creation of new ventures, then serve as interim CEO for some of the newly formed portfolio companies, especially those focusing on medical devices and engineered materials. In managing these companies, he will provide expertise in business development, marketing, and corporate strategic planning. As CEO for VIC’s startup companies, Mr. Storey will not only manage their operations but will also oversee the development and execution of key commercial milestones, such as resource plans, funding, and recruitment of permanent CEOs and management teams.
“We are indeed fortunate to add Bob’s considerable talents to our development team,” said Calvin Goforth, President and Founder of VIC. “His energy and contributions to the efforts of our young technology companies have been immediately apparent.”
Mr. Storey is no newcomer to the art of new business development. He has over 30 years of experience in this field, especially with startups in regulated industries. Most recently as Executive-in-Residence at Johns Hopkins University, he has helped commercialize technology developed at the Johns Hopkins Medical School and the Whiting School of Engineering.
After earning degrees in chemical engineering and chemistry at the University of Arkansas, Mr. Storey took a job with Exxon Corporation. His path took him from the Technology Center to Exxon’s Americas Headquarters in Houston, where he worked in business planning, mergers, and acquisitions. He was an advisor in Exxon’s Corporate Controller organization, held Sales and Marketing management positions, and led the formation of Exxon Chemical’s international joint venture with Mitsubishi Petrochemical.
In 1994, Mr. Storey left Exxon to become Vice President and General Manager of a privately held engineering company in Maryland. He led the company through a successful sale to Clariant Corporation of Switzerland, where he served as Vice President of Clariant’s Performance Plastics division.
In 1999, Mr. Storey led Vapotherm, a Maryland company, as President and CEO. The firm, which specialized in non-invasive respiratory devices, received the U.S Commerce Department’s Export Achievement Award, the Maryland World Trade Center International Leadership Award, and Deloitte’s Technology Fast 500 awards four times.
Mr. Storey currently serves on the Dean’s Advisory Council for the University of Arkansas' School of Engineering and is President Emeritus of the Arkansas Academy of Chemical Engineers. He is a Board Member and past President of the Maryland Upper Shore Manufacturing & Business Council, and served on Chesapeake College’s Presidential Search Committee.