Innventure cuts costs, reshapes board amid Accelsius strategy shift

Innventure, Inc. (NASDAQ: INV) announced a series of operational and governance changes, including cost reductions, executive appointments, and board restructuring, according to a company press release dated Sept. 21, 2026.

The Orlando-based company said it expects quarterly parent-level cash expenses to fall to approximately $3.2 million by year-end 2026, down from $7.5 million at the start of the year, a reduction of roughly 56%. The figures exclude debt service, severance, litigation, and certain other non-recurring expenses.

Innventure appointed Eric Stober as its new Chief Financial Officer, effective Oct. 19, 2026. Stober previously served nine years as CFO of Astrotech Corporation (NASDAQ: ASTC), where he managed the sale of its satellite operations business to Lockheed Martin. He most recently served as CFO of Capital Factory. Current CFO David Yablunosky will step down on Oct. 19 and transition to an advisory role.

The company also appointed Michael Madon as an independent director, effective Sept. 28, 2026. Madon currently serves as Chief Revenue Officer of ABCorp and previously founded cybersecurity firm Ataata, Inc., which was acquired by Mimecast Limited. He also serves on the board of Cyabra (NASDAQ: CYAB) and previously held a role as Deputy Assistant Secretary for Intelligence at the U.S. Department of the Treasury.

Michael Otworth and John Hewitt resigned from the Innventure board on Sept. 18, 2026. The board reduced its authorized size from eight to seven directors, six of whom will be independent. Hewitt will continue as CEO of Accelsius, Innventure's primary operating company. Otworth will provide transitional advisory services.

CEO Bill Grieco said the company is focused on its interest in Accelsius, which operates in the two-phase, direct-to-chip liquid cooling market. "Innventure is committed to Accelsius' success as they execute against their key milestones," Grieco said.

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