This is how the Telegraph reported Reed:
So, he didn't use the word "sign", but I can see why that might be the most logical conclusion from what Reed said (even though 'replacing from within' is still a valid interpretation)
Edit: that said, Reed's last sentence there, about it not happening if at the end if the window, tends to suggest that the 'replacement' would be a signing, so, on reflection I think Reed may have been economical with the truth here...