Innventure, Inc. has announced a series of leadership changes and operational adjustments, including the appointment of Eric Stober as Chief Financial Officer and a reduction in the size of its Board of Directors.
Effective October 19, 2026, Eric Stober will assume the roles of Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer. He succeeds David Yablunosky, who will continue in his current role through October 19, 2026, and will then serve in an advisory capacity to support the transition. Mr. Stober, age 49, most recently served as CFO of Capital Factory, a venture capital firm, and previously held the CFO role at Astrotech Corporation (Nasdaq: ASTC) for nine years.
In connection with his appointment, Mr. Stober has entered into an employment letter with Innventure LLC. Under this agreement, he is entitled to an annual base salary of $525,000, an annual cash bonus with a target opportunity equal to 100% of his base salary, and a grant of restricted stock units valued at $600,000 upon commencement of employment. The restricted stock units will vest in one-third increments over three years. Additionally, he is eligible for an annual equity grant with an expected grant date value of $575,000 in April 2027.
The Board of Directors has also reduced its size from eight to seven directors. This change follows the resignation of Michael Otworth and John Hewitt on September 18, 2026, to increase the percentage of independent directors. Michael Madon was appointed to fill the vacancy created by Mr. Otworth’s resignation, effective September 28, 2026. Mr. Madon is independent and brings experience in technology commercialization, AI, and cybersecurity.
Separately, the company has implemented cost-reduction measures. Since the start of Q2 2026, parent-level headcount and operating expenses have been significantly reduced. The company expects quarterly parent-level cash expenses to be approximately $3.2 million by the end of 2026, compared to $7.5 million at the beginning of the year, representing a reduction of approximately 56%. These figures exclude debt service, severance, litigation, and certain other non-recurring expenses.
