ORLANDO, Fla. - Innventure, Inc. (NASDAQ:INV) announced Wednesday that its board of directors has appointed John Hewitt to fill a board vacancy and nominated Catriona Fallon to stand for election as an independent director at the company’s annual meeting on June 17, 2026. The announcement comes as the stock trades at $6.29, having surged 117% over the past six months despite a recent pullback of 8.8% in the last week.
The appointments follow discussions with shareholders, including Ascent Capital Partners, regarding board composition, according to a press release statement.
Hewitt currently serves as chief executive officer of Robertshaw Controls. He previously held the position of president of the Americas at Vertiv, where he ran a data center infrastructure business. He has also held senior roles at TE Connectivity, Motorola, and Baker Hughes. Hewitt sits on the boards of IDEAL INDUSTRIES INC and Accelsius, an Innventure operating company.
Fallon has served as chief financial and administrative officer of Hitachi Vantara, chief financial officer of Silver Spring Networks, and chief financial officer of Marin Software. She currently sits on the boards of Arlo Technologies, Inc. and Palomar Holdings, Inc., chairing the audit committee of both companies. If elected, she is expected to serve on Innventure’s audit committee.
Hewitt fills the vacancy created by Daniel Hennessy’s resignation from the board on April 29, 2026. He will serve as an independent Class I director for a term expiring at the company’s 2028 annual meeting. If elected, Fallon will serve as an independent Class II director for a three-year term expiring at the company’s 2029 annual meeting.
"I have long been impressed by Innventure’s differentiated model of building and scaling industrial technology companies," Hewitt said in the statement.
Innventure is an industrial growth conglomerate that focuses on commercializing technology solutions by creating and operating industrial enterprises. With a market capitalization of $504 million, analysts maintain a buy rating on the stock with price targets ranging from $13 to $16. However, InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value. Investors can access the comprehensive Pro Research Report for INV, one of 1,400+ US equities covered with detailed analysis and actionable intelligence.
In other recent news, Innventure Inc. reported strong revenue growth for the full year 2025, particularly in its Accelsius segment. The company secured over $50 million in new bookings for the first quarter of 2026, suggesting robust future revenue potential despite ongoing supply chain challenges. Additionally, Innventure outlined its capital allocation strategy, detailing how it funds operating companies through intercompany convertible debt or equity. As these companies mature, Innventure considers raising capital either at the parent or operating company level, based on cost considerations. These developments highlight the company’s strategic focus on growth and capital efficiency.
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