Innventure cuts parent costs 56%, names new CFO and director

Innventure, Inc. (NASDAQ:INV) has implemented significant organizational changes to cut parent-level expenses and refocus on its subsidiary Accelsius, according to a press release on Monday. The company anticipates its parent-level cash expenses to drop to around $3.2 million by the end of 2026, down from $7.5 million at the start of the year, signifying a 56% reduction. These estimates do not consider debt service, severance, litigation, and other non-recurring expenses.

On October 19, 2026, Eric Stober will assume the role of Chief Financial Officer, replacing David Yablunosky, who is stepping down to serve as an advisor during the transition. Stober previously held the CFO position at Astrotech Corporation (NASDAQ:ASTC) for nine years, where he oversaw the sale of its satellite operations to Lockheed Martin.

Michael Madon has been appointed as an independent director as of September 28, 2026, following the resignation of Michael Otworth and John Hewitt. Madon, currently serving as Chief Revenue Officer at ABCorp and on the board of Cyabra (NASDAQ:CYAB), previously worked as Deputy Assistant Secretary for Intelligence at the U.S. Treasury. Otworth and Hewitt will continue their respective roles as CEO of Accelsius and transitional advisory services for Madon.

The board has reduced its size from eight to seven directors, with six of them being independent. The company is concentrating on preserving and increasing the value of its stake in Accelsius, which specializes in two-phase, direct-to-chip liquid cooling technology. Innventure has been trimming parent-level headcount and operating expenses since the beginning of Q2 2026.