By Adam L. Cataldo
Luna Innovations named William Phelan its new chief financial officer and head of accounting, effective immediately.
He succeeds John Roiko who came out of retirement to join Luna in May, the company said Wednesday. Roiko will now shift to a consulting role to support the company in its restatement process.
On Oct. 7, Luna said was informed that barring an appeal its shares would be delisted from the Nasdaq due its failure to timely file required reports with the Securities and Exchange Commission. At the time, the company said it hadn't filed its annual report for the year ended Dec. 31, 2023, and its quarterly reports for the periods ending March 31 and June 30.
Phelan has been a full-time adviser to the Luna since May, which gives him in-depth knowledge of its operations, the advanced fiber optic-based technology company said. He will oversee financial strategy, accounting operations and associated regulatory compliance.
Prior to his work with Luna, Phelan was chief accounting officer at MiMedx Group, where he led the company's financial restructuring, SEC compliance and internal controls, Luna said.
Write to Adam Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
October 16, 2024 18:16 ET (22:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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