Federico Pignatelli - holds annual salary of $1

Federico Pignatelli, 58 was born on 5 January 1953 in Rome. Initially with the beginning of career, Federico started working as a managing director for an investment banking and brokerage firm. Though later he didn,t stick to the chair of banking firms and was soon switched to smart business discovery. The sturdy enthusiasm for photography and designing crafty made him to create world's largest photo studio complex, legendary known as Pier 59 studios.

On contrary, Federico is also been serving as the CEO of California based laser company Biolase. The distinct part of the company is that it keeps it annual salary of $1 to rebuild the fortunes of the company after a turbulent year. Looking to this smart strategies followed by Federico couple of companies have been trying to copy the idea.

Lately, in the year 2010, the company has just posted revenues of $26.2 million for its full fiscal year and ended December 31 representing a dramatic slide from the figure of $43.3 million and Federico Pignatelli believes that the major strategic changes that he has instigated over the past six months will ultimately benefit the company's shareholders where he owns the largest shares.