9 April 2015

POET appoints new directors

POET Technologies Inc of Toronto, Canada - which, through subsidiary OPEL Defense Integrated Systems (ODIS Inc) of Storrs, CT, USA, has developed the proprietary planar-optoelectronic technology (POET) platform for monolithic fabrication of integrated III-V-based electronic and optical devices on a single semiconductor wafer - says that its board has appointed two new directors to fill vacancies, the most recent of which was created by the resignation of director Adam Chowaniec, as a result of the illness that led to his recent passing (announced on 17 February).

"The Corporate Governance and Nominating Committee (CGNC) has been engaged in an extensive search to find suitable candidates to fill the role of permanent CEO and supporting executive staff and directors," says executive co-chairman & interim CEO Peter Copetti. "The search has provided a short list of extremely capable and impressive candidates," says CGNC's chairman John O'Donnell. Final decisions are not expected to be made until May with respect to the top executive roles, however the process has produced, to date, two very exceptional new directors with the semiconductor industry experience and relationships to help propel the firm through its lab-to-fab transition.

Subject to all necessary regulatory approvals, the board has approved the following appointments:

• Todd A. DeBonis is a veteran semiconductor executive with over 27 years of expertise in sales, marketing and corporate development. For the last decade, he was VP of global sales & strategic development at TriQuint Semiconductor, during which TriQuint experienced dramatic growth and recognition in the industry as the technology leader in RF solutions. DeBonis played an integral part in its recent merger with RF Micro Devices and subsequent creation of Qorvo Inc.
  
  DeBonis previously held the position of VP, worldwide sales & marketing at Centillium Communications. He also served as VP, worldwide sales for Ishoni Networks and VP, sales & marketing for the Communications Division of Infineon Technologies North America. DeBonis has a B.S. degree in Electrical Engineering from the University of Nevada.

• David E. Lazovsky is the founder of Intermolecular and was its president & CEO and a member of its board of directors from September 2004 to October 2014. He has an in-depth knowledge of the semiconductor industry, technology and markets. Lazovsky raised significant amounts of venture capital and other strategic private investments in Intermolecular's initial public offering.
  
  Previously, he held several senior management positions at Applied Materials. From 1996 through August 2004, Lazovsky held management positions in the Metal Deposition and Thin Films Product Business Group, responsible for managing more than $1bn in Applied Materials' semiconductor manufacturing equipment business. From 2003 until 2004, he managed key strategic accounts in Business Management, working with integrated circuit manufacturers to ensure that Applied Materials was developing and providing cutting-edge technology solutions. From 2002 until 2003, Lazovsky served as technology program manager for the Endura 2 Platform, Applied Materials' flagship 300mm metal deposition platform. From 2000 until 2002, he was based in Grenoble, France and served as director of business management for the European region in the Metal Deposition Product Business Group. Previously, Lazovsky served as a business manager from 1997 to 2000, and account product manager from 1995 to 1997.
  
  Lazovsky holds a B.S. in mechanical engineering from Ohio University and, as of end-March 2014, held 41 pending or issued US patents.

Both Lazovsky and DeBonis are residents in Silicon Valley. The firm expects that they will play a key role in helping it to position itself in this critical heart of the semiconductor ecosphere, which is a key part of the focus of future development plans.

The board approved the grant of 250,000 stock options each to Lazovsky and DeBonis, pursuant to the firm's stock option plan. Pursuant to TSX Venture Exchange policies, and based on market price, the exercise price of the options was set at CA$1.99 per share and they expire on 8 April 2020. The options will vest and be exercisable on the basis of 25% six months after the date of issue and 25% every six months thereafter.

See related items:

BAE Systems to provide foundry services for POET's Lab-to-Fab transition

Tags: POET

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