Forza X1, Inc. Names Joseph Visconti as Interim CEO and Daniel Norton as President

Rhea-AI Summary

Forza X1, Inc. appoints Joseph Visconti as Interim CEO and Daniel Norton as President. Visconti brings extensive experience in product development and financial operations. The Company aims to leverage his expertise to drive its vision forward.

FORT PIERCE, FL / ACCESSWIRE / March 18, 2024 / Forza X1, Inc. (NASDAQ:FRZA) ("Forza," the "Company"), a developer of electric sport boats aimed at promoting sustainable recreational boating, announced last week the appointment of Joseph Visconti as the Company's Interim Chief Executive Officer and Daniel Norton as the Company's President, effective immediately. They replace Jim Leffew, who notified the Company of his resignation on March 6th.

Mr. Visconti currently serves as Forza's Executive Chairman and Chief of Product Development in addition to his recent appointment as Interim CEO. Mr. Visconti is also the CEO, President, and Chairman of Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee"). With nearly 30 years of executive-level operational and financial experience, Mr. Visconti has experience building teams of professionals focusing on product development and bringing those products to market. He has been actively involved in the Company since its origin as Twin Vee's electric boat division in 2020. Since then, Visconti has been instrumental in bringing Forza public, raising capital, and driving Forza's vision forward. The Company believes his deep understanding of Forza's goals and values and his strategic insight into the electric boat market and the recreational marine industry make him an ideal candidate to lead Forza through this transitionary period.

"I am thankful for the opportunity to take on the role of Interim CEO at Forza," said Visconti. "I'm incredibly proud of what the Company has achieved so far and enthusiastic about what we can accomplish in the future. I am looking forward to assuming an operative position and, together with our engineers and management, spearheading the next phase of Forza's journey."

In addition to Visconti's appointment, the Company's Board of Directors appointed Daniel Norton as Forza's President. Norton has been an integral part of the Company since its creation in 2021, serving as its Director of Engineering. His dedication, expertise, and organizational ability have significantly contributed to Forza's progress on its proprietary electric outboard motor and supplementary projects. As the Company's President, Mr. Norton will play an even more significant role in navigating Forza toward future milestones.

Before joining Forza, Mr. Norton spent over 20 years working in the technical design engineering arena for companies, including Caterpillar Inc., Gerber Technology, and ATI Industrial Automation, in various project management and engineering development positions. He holds over 20 patents on innovative electromechanical solutions to automation, boat docking, and workpiece clamping. He is also the inventor of the NLS (Nautical Landing System) technology and has been developing the Smartlander positive restraint system for use in heavy-duty marine applications. Mr. Norton received his Bachelor of Science in Mechanical Engineering in 1998 from Northeastern University and is a member of the American Society of Mechanical Engineers. He received his Certified Scrum Product Owner certification in 2019.

"I am honored to be named President of Forza X1," remarked Norton. "I am thankful for Jim's past leadership and am in awe of all that he has accomplished in his career and in such a short period of time leading us. There are some big shoes to fill. Also, I am humbled and grateful to Joseph who has put faith in my abilities to take Forza to the next stage of growth. I am passionate about our Company's mission and values and am committed to our talented team and what we stand for."

About Forza X1, Inc.

Forza X1, Inc. is a recreational boat builder that manufactures stylish electric sport boats. We are focused on the creation, implementation and sale of electric boats utilizing our electric vehicle technology to control and power our boats and proprietary outboard electric motor. Our electric boats are designed as fully integrated electric boats, including the hull, outboard motor, and control system. For more information, please visit www.forzax1.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the expected contribution of Messrs. Visconti and Norton to the Company, Mr. Visconti being an ideal candidate to lead Forza through this transitionary period, Mr. Norton playing a significant role in navigating Forza toward future milestones and taking Forza to the next stage of growth. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to manage its transitionary period, the Company's ability to achieve future milestones and the next stage of its growth, and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

Contact:

Glenn Sonoda
investor@forzax1.com

SOURCE: Forza X1, Inc.

View the original press release on accesswire.com

FAQ

Who was appointed as Forza X1, Inc.'s Interim CEO?

Joseph Visconti was appointed as Forza X1, Inc.'s Interim CEO.

What is Joseph Visconti's role at Forza X1, Inc.?

Joseph Visconti serves as the Executive Chairman, Chief of Product Development, and Interim CEO at Forza X1, Inc.

What is Daniel Norton's role at Forza X1, Inc.?

Daniel Norton was appointed as the President of Forza X1, Inc.

What is Joseph Visconti's experience in the industry?

Joseph Visconti has nearly 30 years of executive-level operational and financial experience, with a focus on product development and market launch.

What company was Joseph Visconti previously associated with?

Joseph Visconti was previously associated with Twin Vee PowerCats Co. (NASDAQ:VEEE).