Biolase quashes rumors of CEO departure | Personnel Moves

June 10, 2013 by Sony Salzman

Biolase CEO Federico Pignatelli, who made waves with his commitment to a $1 salary, denies rumors that he is stepping down.


Biolase (NSDQ:BLTI) issued a message to concerned investors, quashing rumors of CEO Federico Pignatelli's imminent departure and asserting his continued leadership of the dental laser company.

Pignatelli took the reins at Biolase in 2010, announcing a voluntary $1 salary and 35,000 shares of company stock as his annual compensation, a commitment he's re-upped ever since and challenged others to undertake, calling on political and corporate figures to tighten their own belts.

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Following speculation that Pignatelli might depart, Biolase released a statement assuring investors that there is "absolutely no truth to rumors."

"I am fully committed to Biolase now and for the future," Pignatelli said in prepared remarks.

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