Key Highlights
- Laser Photonics Corporation appointed Tim Peterman as chief financial officer.
- The company also engaged Sheppard, Mullin, Richter & Hampton as outside securities counsel.
- CBIZ was hired to provide consulting on external financial reporting and internal controls.
Laser Photonics Corporation (NASDAQ: LASE) appointed Tim Peterman as chief financial officer, alongside new engagements with outside securities counsel and an external financial reporting consultant, according to an Oct. 20 press release.
The company said the CFO appointment, together with its engagements of Sheppard, Mullin, Richter & Hampton LLP and CBIZ Inc., is intended to support efforts to establish financial accountability, strengthen reporting processes and build a governance framework.
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Executive Chairman Dmitriy Nikitin said, “As we expand our technology portfolio and pursue new markets, we need to hire talented financial leaders like Tim and partner with leading legal and accounting firms like Sheppard and CBIZ. We are strengthening our foundation as we organize for growth.”
Laser Photonics said Peterman has more than three decades of experience in public-company capital markets, financial operations, U.S. Securities and Exchange Commission compliance, and mergers and acquisitions in the technology, media and telecommunications industries. The company said he previously served as chief executive officer of iMedia Brands from May 2019 to August 2023 and as its chief financial officer from March 2015 to April 2018.
According to the release, Peterman has also held senior finance, operating and corporate development roles at The E.W. Scripps Company and IAC/InterActiveCorp, and began his career at KPMG in Chicago in 1989. Laser Photonics said he holds a Bachelor of Science in accounting from the University of Kentucky and is a certified public accountant with an inactive license.
Laser Photonics said Sheppard will advise on securities law, SEC reporting obligations, corporate governance and capital markets matters. The company said CBIZ will provide consulting services aimed at helping management adopt and maintain best practices in external financial reporting and internal control practices, including strengthening controls, improving documentation and supporting compliance with accounting standards and SEC reporting requirements.
Laser Photonics describes itself as a directed energy and laser technology platform developing applications for defense, semiconductor, pharmaceutical and industrial markets.
The original press release is available on stockhouse.com
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