11 February, 2019 BrainChip Holdings Ltd , announced today that...

11 February, 2019 BrainChip Holdings Ltd , announced today that it has appointed Stephe Wilks as Non-Executive Director and Chairman of the board of directors. Mr Wilks will represent all shareholders in the governance of the Company and provide advice and consent for strategic decisions to further the Company’s success. Peter van der Made, Founder and Chief Technology Officer commented, “I am very pleased to have Stephe join the Company’s board of directors.

Hi Tech Laden , as you know Louis was CEO and acting Chairman of the Board of Directors until 11 Feb 2019 when Mr Wilks became the Chairman, and so in effect he became Louis's boss , the CEO answers and reports and seeks permission from the Chairman of the Board.
Tech , since the 11Feb I have noticed some positive changes in management and direction, and your/others favourite whipping boy has been conspicuous by his absence.

https://d1io3yog0oux5.cloudfront.net/_034a2465246c0a5389b69b0b1e9b4dff/brainchipinc/db/217/1647/pdf/Socionext+Memorandum+of+Understanding+Executed.pdf
Anil Mankar, BrainChip Chief Development Officer commented, “After a great deal of investigation and diligence, it is clear that Socionext has the commitment, competency, intellectual property and desire to work with us on the implementation and launch of Akida.

https://d1io3yog0oux5.cloudfront.net/_034a2465246c0a5389b69b0b1e9b4dff/brainchipinc/db/217/1648/pdf/Senior+Managment+Appointments+and+Director+Resignation.pdf
Company Appoints Roger Levinson as Chief Operating Officer o Mr Levinson brings significant experience in engineering, manufacturing, operations, sales and marketing. Mr Levinson will be responsible for all aspects of operations including ASIC manufacturing which includes wafer fabrication, product engineering, assembly and test operations, and customer service.

https://d1io3yog0oux5.cloudfront.net/_034a2465246c0a5389b69b0b1e9b4dff/brainchipinc/db/217/1660/pdf/BRN+Responds+to+Shareholder+REM+Report+Concerns.pdf
In recognition of the issues raised by Shareholders, and the consequences of the tax driven sale of shares by the Company’s incentive scheme manager, the CEO and Board commenced a discussion around alternative possible arrangements. The Company has now reached an agreement with the CEO to: a. cancel his existing 7,500,000 performance rights and b. in exchange, accept a grant of 7,500,000 options

This agreement comes at a material cost to the CEO – an additional payment to exercise the options of $750,000 which he otherwise had no obligation to take on. The Board is grateful to the CEO for agreeing to the proposed arrangement. In addition, the Company and shareholders benefit from the fact that there is no immediate trigger for a tax obligation through the issue of options, and hence no ‘forced’ selling into the market. The Board will include resolutions to give effect to this arrangement in the Notice of Meeting for the AGM, which is to be issued in the coming days.
The Board also proposes to include in coming financial information a clear breakdown of the non-cash impacts of BrainChip’s incentive arrangements, so that they can be seen separately from the other ‘operating’ costs of the business which more closely reflect the actual cash costs of the operation.

In addition, certain key management personnel continue with their agreement to accept a temporary reduction in their salaries until such time as the Board considers the Company to be in a position to revert to their current market based remuneration. The Board trusts that these responses will go some way to ameliorating the concerns raised by Shareholders in relation to the BrainChip’s incentive arrangements. However, the Board also recognises that the Company’s primary objective over the coming year remains the implementation of Akida as a Neuromorphic System on a Chip. The Board and management continue to devote their energies to delivering on the promise of the technology, as seen in the recent announcement of the MoU with Socionext Americas, as the Company’s implementation partner in this endeavour.
Stephe Wilks, Chair [email protected]

https://d1io3yog0oux5.cloudfront.net/_034a2465246c0a5389b69b0b1e9b4dff/brainchipinc/db/217/1662/pdf/Organisational+Realignment.pdf
BrainChip Announces Organizational Realignment Roger Levison, Chief Operating Officer to Head Sales and Marketing Primary Focus on AkidaTM Product Development and Marketing . Acceleration of Engagements with Early Access Akida Customers. 25 April 2019: BrainChip Holdings Ltd today announced a reorganization that further dedicates resources to the Akida product development and commercial introduction.
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