He was on the board of Poet soley due to the control he had over the significant amount of shares that Pinetree held (greater than 10%), in addition to his personal holdings.

Now that he longer has direction/control over those Pinetree shares, I would guess that he may get "replaced" on the Poet board by someone with more relevant semiconductor experience.

The agreement requires PNP to retire $20M of debt by July, 2015, so this would be a great time for PNP to sell a block of PTK shares to a strategic Poet partner.