BIOLASE Chief Executive Officer to Continue at Rate of $1.00 Annual Salary
08 Marzo 2012 - 3:04PM
Marketwired
BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental
laser manufacturer and distributor, today announced that Chief
Executive Officer Federico Pignatelli will continue at an annual
salary compensation of $1.00 only.
Pignatelli stated, "In my continuing effort to align the actions
and policies of BIOLASE with the interests of its shareholders, the
Board of Directors has accepted my offer to continue to serve as
the CEO with only a nominal cash consideration. As I have said in
the past, my plan is to generate continued growth and improved
financial performance and, therefore, I am committed to drive
growing value in BIOLASE Common Stock, and so align my own interest
to the interest of the shareholder, the ultimate owners. It is my
firm belief that a CEO's compensation should be tied only to the
financial performance of the company he leads, and not to
arbitrary, extravagant and exorbitant numbers decided by an
irresponsible and friendly Board of Directors.
"I invite the many other CEOs of American companies to follow my
example, and I extend the invitation also to the politicians of our
Country that have brought the U.S. to this unsustainable level of
debt and economic under performance," Pignatelli concluded.
About BIOLASE Technology, Inc. BIOLASE
Technology, Inc., the World's leading Dental Laser Company, is a
medical technology company that develops, manufactures and markets
dental lasers and also distributes and markets dental imaging
equipment, products that are focused on technologies that advance
the practice of dentistry and medicine. The Company's laser
products incorporate 284 patented and patent pending technologies
designed to provide clinically superior performance with less pain
and faster recovery times. Its imaging products provide
cutting-edge technology at competitive prices to deliver the best
results for dentists and patients. BIOLASE's principal products are
dental laser systems that perform a broad range of dental
procedures, including cosmetic and complex surgical applications,
and a full line of dental imaging equipment. BIOLASE has sold more
than 19,000 lasers among 16,000 customers. Other products under
development address ophthalmology and other medical and consumer
markets.
For updates and information on laser and Waterlase dentistry,
find BIOLASE at http://www.biolase.com, Twitter at
http://twitter.com/GoWaterlase, and YouTube at
http://www.youtube.com/user/Rossca08.
This press release may contain forward-looking statements within
the meaning of safe harbor provided by the Securities Reform Act of
1995 that are based on the current expectations and estimates by
our management. These forward-looking statements can be identified
through the use of words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates," "may,"
"will," and variations of these words or similar expressions.
Forward-looking statements are based on management's current,
preliminary expectations and are subject to risks, uncertainties
and other factors which may cause the Company's actual results to
differ materially from the statements contained herein, and are
described in the Company's reports it files with the Securities and
Exchange Commission, including its annual and quarterly reports. No
undue reliance should be placed on forward-looking statements. Such
information is subject to change, and we undertake no obligation to
update such statements.
For further information, please contact: Jill Bertotti of Allen
& Caron +1-949-474-4300
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