Lightwave Logic extends CEO contract, CFO to retire at year-end

ENGLEWOOD, COLORADO - Lightwave Logic, Inc. (NASDAQ:LWLG), a developer of electro-optic polymer materials with a market capitalization of $406 million and impressive gross margins of 92%, announced Tuesday that CEO Yves LeMaitre has signed a three-year extension to his employment agreement, now running through December 31, 2028.

The company also reported that Chief Financial Officer and Chief Operating Officer Jim Marcelli will retire at the end of 2025. Marcelli, who has served the company for 17 years in various capacities including as President and CEO, will remain in his current role through December 31 and continue as a board member until that date. The company has begun searching for his replacement. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 20.7, though it remains unprofitable with negative earnings in the last twelve months.

"Since his appointment to CEO in December 2024, Yves has had a measurable and significant impact on the Company’s commercial progress and material readiness," said Ronald A. Bucchi, Chairman of the Board, in a press release statement.

Marcelli played a key role in Lightwave Logic’s transition to a publicly traded company on the OTCOX and its subsequent uplisting to NASDAQ, according to the company.

Lightwave Logic develops electro-optic polymers designed for high-speed data transmission applications in telecommunications, data centers, and AI infrastructure.

In other recent news, Lightwave Logic has made several strategic moves to strengthen its leadership and market presence. The company appointed Dr. Lance Thompson as the new Vice President of Engineering, replacing interim VP Siraj Nour ElAhmadi, who will continue to serve on the board of directors. Dr. Thompson brings extensive experience from his previous roles at Coherent, Lumentum, Kaiam Corporation, and Sumitomo Electric Device Innovations. Additionally, Lightwave Logic has expanded its reach in Asia by forming a strategic partnership with Photonteck to enhance its sales and distribution network for electro-optic polymers used in silicon photonics applications. The company also welcomed Dr. Sundar Ramamurthy to its Technical Advisory Board, leveraging his over 30 years of experience in the semiconductor industry. These recent developments indicate Lightwave Logic’s focus on enhancing its engineering leadership and expanding its market footprint.

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