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Date Announced: 27 Aug 2010
Previous CEO returns to head up dental laser company once again, as a replacement for the departing CEO David M. Mulder.
IRVINE, CA--(Marketwire - 08/27/10) - BIOLASE Technology, Inc. (NASDAQ:BLTI - News), the world's leading dental laser company, is pleased to announce the appointment of Federico Pignatelli as Executive Chairman effective August 24, 2010. Mr. Pignatelli takes over from David M. Mulder, who resigned as Chairman, CEO, and President to pursue other opportunities. Mr. Pignatelli has previously served, over the past 16 years, as Chairman of the Board, Interim CEO, and President.
Mr. Pignatelli stated, "We now have an entirely new board and I am very pleased to return to the Chairman role after almost 5 years. Historically, during my tenure as Chairman the company enjoyed its greatest growth years. I had personally requested that David take the reigns as CEO almost a year and a half-ago, during a very difficult economic and valuation environment, and we appreciate his untiring efforts to guide the company through those challenges and to help us lay a foundation for the future. We wish him well."
Mr. Mulder commented, "It is a natural time to transition the Chairmanship role at BIOLASE. We have spent the past two years keeping the Company viable and weathering a very rough economy, while laying the groundwork for a completely new commercial strategy. Now it is time to execute that strategy with boldness and a single point of leadership to ensure its success. I would encourage everyone to follow Federico's leadership as they have followed my own. I wish the company well and appreciate having had the opportunity to serve you."
E-mail: jill@allencaron.com
Web Site: www.biolase.com
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