TWC Group :: Press Releases

Collegeville, PA (August 24, 2004) – TWC Group today announced the appointment of Timothy Teen to Chief Executive Officer of InSitech Incorporated. The appointment marks this year’s fourteenth successful engagement for the executive search team of TWC, a world-class consulting firm that specializes in outsourced recruitment, executive search, and operational improvement.

Headquartered at the U.S. Army's Picatinny Arsenal, in Morris County, NJ, InSitech is a comprehensive partnership Intermediary representing the commercialization interests of the U.S. Army’s Armament Research, Development and Engineering Center (ARDEC). InSitech’s board of trustees engaged TWC in April of 2004 to source and hire a chief executive to execute InSitech’s mission. The board was quite specific regarding their qualifications for hire. The optimal candidate needed experience operating a technology park, productizing technologies, evaluating young technology companies, and helping start-ups to gain traction in an incubator environment. Both government and private sector experience was sought.

“This was a unique search,” says Gene Connell, senior management consultant at TWC. “Our executive search team uncovered several highly-qualified candidates with impressive resumes and great business acumen. With his strong expertise in strategic planning and commercialization of various technologies, Tim Teen was far and away our best choice for hire.”

Teen has over 20 years of leadership experience in strategic planning, marketing, operations and engineering in technology-based businesses. As the Divisional CEO of an international high-tech corporation, Teen led cross-functional teams in the commercialization of a diverse patent portfolio. These internal incubator and R&D efforts created unique, high-tech products for various industries including wireless, industrial and security. Most recently, Teen worked with an investment banking firm where he analyzed client technology to determine its market potential, and created corporate development plans.

Commenting on his new position, Teen stated, “InSitech will generate interest in the impressive capabilities here at Picatinny. While leveraging these incredible assets will create significant opportunities for us, it’s the competency and dedication of the individuals within Picatinny that are most impressive.”

InSitech plans to commercialize the organic IP portfolio resident at Picatinny Arsenal, and acquire/develop technology with outside entities. To encourage this, InSitech will simplify technology exchange and commercialization opportunities between the Government, university, and private sectors and create business combinations to bring these technologies to market. InSitech is also managing the development of a 120-acre High-Technology Park on the grounds at Picatinny.

Teen adds, “Our vision is to position Picatinny as the future of technological innovation. To that end, InSitech’s goal for 2005 is to help launch two to three promising new start-ups, from the earliest stages of intellectual property development to securing corporate facilities in InSitech’s High-Technology Park.”

According to Carmine Spinelli, chairman of InSitech’s board of trustees, “TWC did a fantastic job in their search for our chief executive, Tim Teen. I was impressed with the executives that they sourced and screened for us. Each candidate was better than the next, culminating in our introduction to Tim. Tim has already hit the ground running, organizing InSitech, leading the team, bringing in venture capital and getting people excited about using the new technology. We could not be more pleased.”

About InSitech Incorporated
Headquartered at the U.S. Army's Picatinny Arsenal, InSitech is a comprehensive public-private corporation representing the commercialization interests of the U.S. Army’s Armament Research, Development and Engineering Center (ARDEC). InSitech has a charter with NJ’s Morris County to provide Partnership Intermediary Services on their behalf to small businesses and educational institutions that need or can make use of technology-related assistance from Picatinny. For more information, please call Timothy Teen at 973-895-5958, or tteen@insitech.org or visit the InSitech web site at www.insitech.org.

About TWC Group
TWC is a world-class consulting firm that shapes companies to succeed. With a focus on organizational performance improvement, TWC provides a single point of contact for the outsourcing of critical needs impacting human capital and organizational effectiveness. From start-ups to Fortune 1000 firms, TWC’s track record is impressive and includes experience in Biotech, Energy, Financial Services, Information Technology, Optics, Pharmaceuticals, Telecommunications, and Wireless.