PureCycle Technologies, Inc. filed a Form 8-K on November 4, 2026, disclosing the appointment of board member Fernando Musa as Executive Chairman effective November 3, 2026, alongside the release of third-quarter 2026 financial results.

Key Highlights

  • New Executive Chairman: Fernando Musa, 61, was appointed Executive Chairman by the Board of Directors on November 2, 2026, with an effective date of November 3, 2026, and an initial term through December 31, 2027.
  • Base salary: Musa will receive a base salary at an annual rate of $500,000 during the Initial Term, according to the filing.
  • Discretionary bonus: Musa is eligible for a discretionary cash bonus of up to $250,000 following the Initial Term, based on the Board's subjective evaluation of his contributions.
  • One-time payment and RSUs: Musa will receive a one-time cash payment of $41,667.00 on the Effective Date and an RSU award with a target grant date value of $500,000, vesting on November 3, 2027.
  • Chairman transition: Dan Coombs stepped down as Chairman of the Board but will continue as a board member; Tanya Burnell continues as Lead Independent Director.
  • Q3 2026 results announced: The company issued a press release on November 4, 2026, announcing financial results for the third quarter ended September 30, 2026.

PureCycle Board Restructures Leadership with Musa as Executive Chairman

According to the filing, PureCycle Technologies, Inc. (NASDAQ:PCT) disclosed that its Board of Directors appointed Fernando Musa, previously serving as an independent board member, to the newly defined role of Executive Chairman. The appointment, made on November 2, 2026, became effective November 3, 2026, and covers an initial term through December 31, 2027. The filing states that Musa will "support Chief Executive Officer Dustin Olson, principally with commercial activities associated with the Company's products manufactured at its purification facility in Ironton, Ohio and support management's strategic and operational goals."

The filing details Musa's background: he joined the Board in 2021 as an independent director and previously served as the Global Chief Executive Officer of Braskem S.A. from May 2016 to December 2019. He has also served as an Operating Partner of Advent International since March 2020. His compensation package as Executive Chairman includes a $500,000 annual base salary, the one-time $41,667.00 payment on the Effective Date, reimbursement of travel between Brazil and the United States, and RSUs with a target grant date value of $500,000, which vest on November 3, 2027, subject to continued employment through that date.

As a result of the transition, Dan Coombs relinquished the Chairman title but remains a board member. The filing also notes that Valerie Mars, an independent board member, was appointed to the Nominating and Corporate Governance Committee, and that "the Board will continue to be comprised of a majority of independent directors." Separately, the company disclosed that a press release and investor slide presentation were released on November 4, 2026, covering Q3 2026 financial results for the period ended September 30, 2026.

What Was Disclosed

PureCycle Technologies disclosed the appointment of Fernando Musa as Executive Chairman with a defined compensation structure, related board leadership changes, and the release of its third-quarter 2026 financial results and an investor presentation.