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Cadiz Inc. Announces CFO Succession
Cadiz, Inc. (NASDAQ: CDZI, CDZIP) ("Cadiz" or the "Company") today announced that Jacinto J. Hernandez has been named the Company's next Chief Financial Officer, effective September 1, 2026. Hernandez succeeds Stanley E. Speer, who will retire after 17 years with the Company and continue in an advisory role through December 31, 2026, to facilitate the transition. As part of the planned leadership transition, the Company's Controller, Teffiny Bagnara, has been promoted to Vice President.
About this update from Cadiz, Inc.
Jacinto J. Hernandez named executive vice president of finance and chief financial officer; Stanley E. Speer to retire in September 2026. LOS ANGELES, July 27, 2026 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI, CDZIP) ("Cadiz" or the "Company") today announced that Jacinto J. Hernandez has been named the Company's next Chief Financial Officer, effective September 1, 2026. Hernandez succeeds Stanley E. Speer, who will retire after 17 years with the Company and continue in an advisory role through December 31, 2026, to facilitate the transition. As part of the planned leadership transition, the Company's Controller, Teffiny Bagnara, has been promoted to Vice President. "We're excited to have Jacinto join Cadiz as the Company enters its next phase of growth," said Susan Kennedy, Chief Executive Officer of Cadiz. "Jacinto brings vast and unique capital markets expertise to Cadiz. Over his 26-year career, he has helped fund large infrastructure projects, seeded growth companies, and worked closely with boards and management teams to hone and distill strategy, evaluate mergers and acquisitions, and create long-term value for shareholders. He understands how to navigate periods of transformational growth to maximize returns. We are excited to welcome him to Cadiz." Kennedy continued, "Stan Speer has been an exceptional partner over the past decade. His financial leadership helped transform Cadiz from a development-stage company into one that is now entering construction and commercial execution. We are deeply grateful for his commitment to the Company and our shareholders and look forward to working together throughout this transition." "Over the past several weeks, I've had the opportunity to get to know the Cadiz team and deeply diligence the groundbreaking Mojave Groundwater Bank," said Hernandez. "Cadiz is solving the Southwest's most intractable and urgent problem with a portfolio of innovative solutions. Its signature asset- the Cadiz Ranch- simply could not be replicated today. Cadiz has spent decades responsibly planning and permitting this project and I am excited to help commercialize the Mojave Groundwater Bank at a time when communities throughout the Colorado River Basin are experiencing dramatic reductions in their traditional water supplies, driving unprecedented demand for new water solutions." "Cadiz is in the right place at the right time wi...