BIOLASE to initiate search for new CFO

BIOLASE announced that it will be initiating a search for a Chief Financial Officer as it has accepted the resignation of recent Chief Financial Officer Mark J. Nelson. Until a replacement is named, day-to-day finance responsibilities will be handled by VP of Finance and Corporate Controller Brendan O’Connell, and Flynn will cover Investor Relations and other administrative duties.

Biolase President and CEO, Harold C. Flynn, Jr. said that they were very disappointed that Mark was faced with the difficult decision to leave BIOLASE after recently starting as CFO. Mark came to me with a career-changing opportunity with a significant compensation package and substantial financial incentives to work with a previous employer that quickly materialized. They mutually agreed that his departure was best for all parties. Mark’s separation from service was effective May 4, 2017, and no severance or other benefits of any kind were paid. He thought that it is important to note that Mark not only completed the work reflected in their Quarterly Report on Form 10-Q, he was actually one of the investors in their recent $10.5 million financing. They wish him well.