Taking this one step further one could envision that maybe POET had more success than originally anticipated regarding the purely licensing model. I know it is a sore point but I think Peter and Adjit had some deals lined up that Suresh looked at and said hold on. It was always the plan that the new CEO was going to be responsible for closing any deals that had been in the works. We don't have to guess at this point it is right here in this January news release:
CEO search update
Poet recently announced that Ajit Manocha, co-chairman, had 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. Mr. Manocha noted: "Several high-quality candidates are being considered. We hope in the near term to identify Poet's permanent CEO who will continue the process technology development and help us close key industry partnership deals. We look forward to identifying the right successor."
That statement was made by Ajit so when Peter was making those statements at the CIC there was most definitely a basis for them re deals that were in the works. Obviously Suresh and Subhash looked at the whole picture and probably said we think POET can do a lot better?
The down side of course is that Peter becomes the target for shareholder frustration and the market gets beat up.
There is a very big silver lining and that is that POET has never beat the drum to attract big tech investors. I think they have enough information and the right people now to attract those big investors. I think it is fair to say that we are all very frustrated at the share price but I think we are rapidly reaching a point where smart money will listen to what the big picture is and recognize that Suresh, Subhash and Ajit are a power team that have the experience and understanding to recognize POET as a disruptive technology that can meet industry needs. And they know how to monetize it.
