TransMedics Group, Inc. announced the appointment of Fernando Araujo as Chief Financial Officer and Treasurer, effective September 21, 2026. Mr. Araujo will succeed Gerardo Hernandez, who is transitioning to the role of Commercial Strategic Advisor, LATAM to lead the company's expansion into Latin America.
Mr. Araujo, age 46, brings over 20 years of experience in public-company finance. His most recent role was as Chief Financial Officer of GE HealthCare’s Advanced Imaging Solutions, a segment valued at $16 billion. Previously, he served as Senior Vice President of Finance for Enterprise Operations at 3M and held various senior finance and CFO roles at General Electric, including positions in Healthcare Latin America and Healthcare U.S. & Canada.
Under his employment agreements, Mr. Araujo will receive an annual base salary of $590,000 and a target annual bonus of 60% of his base salary. He is also entitled to a cash sign-on bonus of $200,000, payable in two installments during his first 90 days of employment. Additionally, he will receive an initial stock option award with a grant date value of approximately $1,750,000 and an initial award of restricted stock units with a grant date value of approximately $1,750,000. The company will enter into an indemnification agreement with Mr. Araujo in a form similar to an exhibit in its 2026 Annual Report on Form 10-K.
TransMedics also disclosed the terms of a transition agreement with Gerardo Hernandez. Mr. Hernandez will remain a non-executive employee from September 21, 2026, until December 31, 2026, and will serve as a non-employee senior advisor from that date until April 30, 2027. During these periods, he will continue to receive his annual base salary of $535,000 and remain eligible for a 2026 fiscal year bonus. His outstanding equity awards will continue to vest during these periods, and he will receive severance benefits consistent with a without-cause termination following the Separation Date.
Concurrent with the leadership announcement, TransMedics reiterated its full-year 2026 revenue guidance of $737 million to $757 million, representing approximately 22% to 25% year-over-year growth. This guidance excludes any revenue contribution from the company's strategic investment in PAD Aviation Service GmbH. The company expects to revisit this outlook in conjunction with its third quarter 2026 results.
TransMedics management will participate in fireside chats at the Morgan Stanley 24th Annual Global Healthcare Conference on September 14, 2026, and the Baird 2026 Global Healthcare Conference on September 15, 2026.
