BIOLASE Technology, Inc. (BLTI) said its Board of Directors has appointed Federico Pignatelli as the permanent Chief Executive Officer. Previously, Pignatelli was the interim Chief Executive Officer of BIOLASE. Pignatelli has agreed to continue at an annual salary compensation of $1.00 as Chief Executive Officer.
The Company also announced that it commenced an official search for a Chief Financial Officer / Chief Operating Officer position. The Board of Directors expects to make an appointment to this role following a thorough and robust executive search process.
Separately, BIOLASE Technology revealed the first phase of its planned sales force expansion in North America.
Federico Pignatelli, Chairman and CEO, commented, "We are extremely pleased that we have achieved a 30 percent increase in our North American sales force as it will position us for stronger performance in the fourth quarter and beyond. This expansion takes us from our current sales force total of 20 to 26 with a goal of becoming 35 strong during the first quarter of 2011."
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