Boston, MA 06/18/2014 (wallstreetpr) – BIOLASE Inc (NASDAQ:BIOL), the leading dental lasers producer and seller has recently announced the change of the board.
The leadership change is seen as a company’s move to focus on its professional customers and their patients and deal with the competitions.
The Company is trying to build a strong trust with the distributors and medical professional. Also, a strong positive trust is required with partners and investors.
The Company’s Board consists of six directors after the appointment.
Appointment of New Chairman
Mr. Federico Pignatelli, the Chairman and CEO of the company resigned from his position on June 12, 2014 after the decision of Delaware Supreme Court. He will still be a director of the Company.
Mr. Clark has been elected as the Chairman by the board in his place.
He is experienced and has served many high positions including Chairman and CEOs of the companies he was associated. He has done MBA and B.A. in finance.
Appointment of New Director
Jeffrey Nugent has been appointed in the board of directors on June 16, 2014. Mr. Nugent has been appointed as an Interim CEO of BIOLASE Inc (NASDAQ:BIOL) till the company decides the CEO.
No agreement has been signed between Mr. Nugent and the company. The appointment is purely on his professional achievements. He is not related to any member of the company or its subsidiaries.
Mr. Nugent has a vast knowledge in the field of medical devices. He has done his M.B.A. in Marketing and Finance and B.S. degree in Mathematics.
He was the founder, President, and CEO of Precision Dermatology, Inc. He has also served the post of President and Chief Executive Officer of Revlon, Inc. and Neutrogena Corporation. He is currently serving as the director of Scientra, Inc.
The Finance Committee
The board has also constituted the Finance Committee to review and recommend corporate finance matters to the Board on financing for the approval.
The members of the committee include Messrs. James Talevich, Paul Clark along with Jeffrey Nugent.
Mr. Paul Clark has been appointed to the Compensation and Nominating and Corporate Governance Committees of the Board.
