CVD Equipment Corporation Announces Restructuring Plan And Leadership Transition
CVV•Restructuring plan and leadership changes
CVD Equipment Corp announced a restructuring plan and leadership transition.
- CVD Equipment Corp is to reduce its workforce by about half.
- The company is to cease pursuing new system orders for its equipment business.
- It expects a restructuring charge of $0.80 million-$1 million this quarter.
- The board is evaluating cost reduction and asset monetization, including real estate.
- Warren Cheesman has been appointed acting CEO effective immediately.
- Emmanuel Lakios is to step down as president, CEO and board member.
- At the end of Q2 of 2026, the company had $23.5 million in cash and no debt.
