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TLC Vision Corp., which last month reported a $95.4 million fourth-quarter loss, said its CEO has left the company through a mutual agreement with its board of directors.

The eye-surgery corporation, with U.S. headquarters in Chesterfield, would not give a reason for Chief Executive James Wachtman’s departure. TLC Vision said Wachtman, who had the job since 2004, also has resigned from the board. The company’s main headquarters is in Mississauga, Ontario.

"It is Mr. Wachtman’s intention to pursue other interests," TLC said in a statement. Wachtman could not be reached for comment.

Before becoming CEO, Wachtman was president and chief operating officer of the company. TLC Vision was formed in 2002 through a merger of TLC Laser Eye Centers and Laser Vision Centers. Wachtman had held executive positions with Laser Vision since 1996.

When TLC reported earnings in March, it doubted it could comply with loan agreements for the balance of 2009 unless they were amended no teletrack payday loan. Based on its loan issues, Ernst & Young, TLC’s outside auditor, said it would raise concerns about the company’s viability in its opinion on 2008 fiscal financial results.

However, this month TLC said lenders granted a limited waiver for defaults, and the company is now working toward a permanent solution.

As part of Thursday’s announcement, TLC said it has created a chief restructuring officer position and has formed a three-person office of the chairman. The latter is comprised of Warren Rustand, chairman of the board; James Tiffany, the newly appointed TLC president and chief operating officer; and Michael Gries, the chief restructuring officer. Tiffany had been president of Sightpath Medical, a TLC subsidiary, and Gries also will remain a principal of a New York City financial advisory firm.

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