Dr. Taylor's revised role at POET Technologies to accelerate development of new technology and product applications

Dr. Geoff Taylor, the Company's Chief Scientist, has realigned his role in the Company. Dr. Taylor has resigned as a director and has entered into a new consulting contract to provide the Company with technical and analytic support on the development of the POET integrated circuit technology platform and its initial products.

"I am thankful to the Board of Directors for its support. I am looking forward to concentrating on my primary mission, the uplifting of POET to a mainstream integrated circuit technology. To this end I will be providing technical input to the Board in the development and expansion of the POET IP platform," said Dr. Taylor. "Our CEO, Dr. Venkatesan, has joined the Board and has provided new meaningful and exciting ideas for the deployment of our technology. I will continue to advise the Board and liaise with Suresh on both technology improvement and implementation in new areas of focus. Both Suresh and I are increasingly convinced about the potential and applications of the disruptive POET platform as we set our sights towards commercialization. Transitioning Board responsibilities to Suresh, allows me to spend more time working on new technology and product applications."

"Dr. Taylor's innovations and keen insights that have culminated in the POET technology platform, promise to enable disruptions in cost and power over incumbent solutions. I would like to thank Geoff on behalf of the Board for his contributions over the years," said Dr. Venkatesan. "I look forward to continuing to work with Geoff as we incorporate the technology into products. He will continue to be an active contributor to the development of the technology and products and will be the Chief Technical advisor to and prime source of innovation for the management team."

Based on what I see in the above statement, the resignation of SI has opened up one spot for Board appointment?