Note our news release from Nov. 17, 2014:

Search for permanent CEO

Mr. Manocha has been appointed to the Corporate Governance and Nominating Committee, subject to Board approval, with the mandate to identify and consider candidates for the permanent Chief Executive Officer role. Since Mr. Copetti was named Chairman and interim CEO in February of 2014, the Company has reached financial stability with good cash in hand and has a well-established monetization path with a clear technical roadmap set for 2015. The Company’s restructuring phase is over. The Board has set a target of early 2015 to appoint the new CEO for the Company and a few other senior executives during the latter part of the year 2015. Mr. Copetti noted: “This is an important step forward for the Company as we get ready to demonstrate our technology at smaller geometries like 100 and 40-nm. I am happy with our current financial and technical position and I feel this is a good time to further strengthen the management team with a permanent CEO.”

Is it still early 2015? Not really in my mind. There has been a delay in appointing the new CEO. Is it because of a buyout? Maybe they did not find the right candidate? Maybe the right candidate was not ready to take the job yet? Maybe they are timing the announcement of the CEO to coincide with milestones? Multiple possibilities. If we have a big name CEO maybe he could help to play hardball in the buyout negotiations? Sure there would be some dilution in regards to his options but it could be worth it.