Profound Medical Corp. filed an 8-K on November 12, 2026, disclosing a series of leadership changes effective November 5, 2026, including a planned CEO transition, a new CFO appointment, a director resignation and replacement, and amendments to its non-employee director compensation policy.

Key Highlights

  • CEO transition: Richard R. Fabian, current President, is appointed President and Chief Executive Officer effective January 15, 2027, while Arun Menawat steps down as CEO and becomes Executive Chairman as of that date.
  • CFO appointed: Matthew Sobczyk, CPA, CA, age 42, was appointed Chief Financial Officer effective November 5, 2026, having previously served as Interim CFO since August 14, 2026.
  • Sobczyk compensation: As CFO, Mr. Sobczyk will receive an annual base salary of CAD 300,000, a target annual bonus of 50% of base salary, and a one-time grant of 5,000 RSUs and 5,000 share options.
  • Menawat Executive Chairman pay: Dr. Menawat will receive annual cash compensation of $225,000 and an annual stock award with a grant date value of $375,000 in his new role.
  • Director change: Cynthia Lavoie resigned from the Board on November 5, 2026, and Jason Mills was appointed the same day to fill the vacancy, serving until the Company's 2027 annual meeting of shareholders.
  • Director compensation update: Effective January 1, 2027, non-employee directors will receive an annual cash retainer of $55,000 and an annual equity award valued at $110,000, vesting 12 months from grant.

Profound Medical's Leadership Overhaul: CEO, CFO, and Board Changes Detailed

According to the filing, the Board of Profound Medical Corp. (NASDAQ:PROF) approved a leadership transition plan on November 5, 2026, under which Richard R. Fabian will become President and Chief Executive Officer effective January 15, 2027. Mr. Fabian, age 59, has served as President of the Company since September 1, 2026. Prior to that, he served as president and chief executive officer of FUJIFILM Sonosite, Inc. from 2017 to June 2026, and held executive roles at Philips Healthcare from 2002 to 2016. The filing states there are no changes to Mr. Fabian's previously disclosed compensation arrangements, and he will become a non-voting observer to the Board upon his appointment as CEO.

Arun Menawat, the outgoing CEO, will transition to the role of Executive Chairman as of January 15, 2027, and will continue to serve as a Board member. The filing disclosed that the Board approved annual cash compensation of $225,000 and an annual stock award with a grant date value of $375,000 for Dr. Menawat in that capacity. His existing RSUs and share option awards will continue in accordance with their terms, according to the filing.

On the same date, the Board appointed Matthew Sobczyk as Chief Financial Officer, effective immediately. Mr. Sobczyk had been serving as Interim CFO since August 14, 2026, and held progressively senior finance roles at the Company since May 2017, including Corporate Controller from March 2023 to August 2026. Prior to joining the Company, he spent over a decade in public accounting with Ernst & Young LLP and MNP LLP, the filing stated. Separately, the Board also amended its non-employee director compensation policy, raising the annual cash retainer to $55,000 and setting the annual equity award at $110,000, both effective January 1, 2027. Additional fees are provided for committee chairs and members under the amended policy.

What Was Disclosed

Profound Medical Corp. disclosed a director resignation and replacement, a CEO succession plan taking effect January 15, 2027, the appointment of a permanent CFO with detailed compensation terms, and an updated non-employee director compensation policy, all arising from Board actions on November 5, 2026.