OET Technologies Inc. (“POET”), a designer, developer and manufacturer of optoelectronic devices, including light sources, passive wave guides and Photonic Integrated Circuits for the data communication and telecom markets, announced the appointment of Glen Riley to the Board of Directors.
Riley’s extensive and relevant experience includes more than 30 years in leadership roles spanning both the semiconductor and optoelectronics industries. He most recently served as general manager of the Filter Solutions Business Unit at Qorvo, where he was responsible for developing highly integrated RF modules used in flagship smartphones. Prior to the merger of RFMD and TriQuint that formed Qorvo, he held multiple leadership roles at TriQuint, including managing director of international headquarters in Singapore, general manager of the GaAs foundry business and general manager of Optoelectronics. Riley was previously the chief executive officer of Opticalis, an early stage optoelectronics company focused on the development of high-density wavelength division multiplexing products. He also held prior roles as vice president and general manager of the Optoelectronic business at Agere Systems and president of Asia-Pacific Sales and Marketing at Lucent Technologies Microelectronics Group.
“Glen is an excellent addition to POET’s board, bringing extensive executive experience from leading semiconductor and optoelectronics companies,” said Dr. Suresh Venkatesan, executive chairman and CEO of POET. “He has highly relevant experience in the development and advancement of market-leading solutions, in particular his past work with new technology solutions that helped to increase the capacity of existing fiber optic networks for less than half the cost of traditional solutions. We are pleased to welcome him to the Board and look forward to Glen’s contribution of valuable experience and insight as we continue to advance toward commercialization of the POET Optical Interposer platform.”
Riley currently serves as a member of the advisory board at Resonant, a publicly-traded company that designs and develops advanced acoustic filters for 5G RF solutions. He graduated as valedictorian with a B.S. degree in Electrical Engineering from the School of Engineering at the University of Maine and completed The General Manager Program at Harvard Business School.
Options Grant
The Board approved a grant of 224,600 stock options to Glen Riley. The options are exercisable for 10 years at a price of CAD$0.50 (US$0.33), being the closing price of the company’s shares on December 4, 2020. The directors’ options vest quarterly in arrears over the one year of service as a director until the next Annual General Meeting.
The options were granted subject to provisions of the company’s 2020 stock option plan and are subject to the TSX Venture Exchange policies and applicable securities laws. For further details on the company’s share capital, refer to the company’s financial statements and MD&A for the three months ended September 30, 2020, which were filed on SEDAR on November 18, 2020.