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27 April 2015

POET appoints chief operating officer

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 - has appointed Dr Subhash Deshmukh as chief opersting officer (commencing 8 June, to give him time to fulfill duties with his current employer).

Most recently, Deshmukh has been VP of emerging technologies & products at Applied Materials Inc. Prior to rejoining Applied Materials, he was VP & general manager of the Plasma Products business unit as well as VP of business development for Varian Semiconductor Equipment Associates Inc (acquired by Applied Materials in November 2011). Before moving to Varian Semiconductor, Deshmukh was general manager of Applied Materials' Dielectric Etch products division. He previously served in a number of executive and management positions with increasing responsibility at Applied Materials, Lam Research, and AMI Semiconductors. Deshmukh has a PhD in Chemical Sciences, has authored and co-authored over 55 technical articles and has been granted over 27 patents (with several patents pending).

Deshmukh has "a proven track record in leading technology companies, both in technology development and strategies to create sustainable revenues," says interim CEO & executive co-chairman Peter Copetti. "Subhash's appointment marks another crucial step in the company's succession plan as it moves towards monetizing the POET process," he adds. 

"I see tremendous potential with POET Technology's innovative approach to combining Si-based ICs with III-V materials-based optical components on the same chip that could revolutionize the mobility, telecommunications/networking, large data management, and other technology sectors," comments Deshmukh.

Stephane Gagnon, who has been serving as COO, has agreed to stay on and help the firm through a period of transition in senior management. "Stephane was a key member in laying the foundation for the company's current direction," notes Copetti.  

Deshmukh has been granted 1,500,000 options to purchase common shares of the company. The options may be exercised at a price of CDN$1.62 per share for a term of 5 years from the effective date of his employment (expiring on 24 April 2020). The option terms were determined based on current market price in accordance with the TSX Venture Exchange policies and the company's stock option plan. The options will vest as follows: 250,000 options on the first anniversary of the effective date; 416,666 on the second anniversary; and 416,667 on each of the third and fourth anniversary.

Tags: POET

Visit: www.poet-technologies.com

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