Innventure will appoint Eric Stober as chief financial officer, principal financial officer and principal accounting officer effective October 19, 2026, with an annual base salary of $525,000. The transition also includes a 100% Bonus target and $600,000 restricted stock grant, while board changes increase independent representation.

Key Highlights

  • Michael Otworth and John Hewitt resigned as directors on September 18, 2026.
  • Michael Madon will join the board as an independent director effective September 28, 2026.
  • Eric Stober’s first annual Equity grant is expected in April 2027, with a grant date value of $575,000.

His annual base salary will be $525,000. Stober will succeed David Yablunosky, who is expected to remain in those roles through October 19, 2026, or an earlier date chosen by him or Innventure (NASDAQ: INV).

Board and Executive Changes Take Effect

Both departures were stated not to result from disagreements over operations, policies or practices, while Otworth will provide transitional advisory services. Michael Madon was appointed on September 20, 2026, to Fill the vacancy created by Otworth’s departure, with his appointment taking effect September 28, 2026. The board determined that Madon is independent under applicable Nasdaq Stock Market and Securities Exchange Act requirements. Committee assignments have not been determined. The board also approved a reduction in its size effective September 20, 2026. Stober, age 49, has served as chief financial officer of Capital Factory since April 2022 and previously held the same role at Astrotech Corporation (NASDAQ: ASTC) from November 2013 to April 2022. Stober’s target annual bonus opportunity will initially equal 100% of base salary. Upon starting, he is to receive restricted stock units valued at $600,000, vesting in three equal installments over the first three anniversaries, subject to continued employment. His first annual equity grant is expected in April 2027, with a grant date value of $575,000.