Leadership & Pay ·
Ocean Power Technologies appoints Victoria Hay as interim CFO following Robert Powers' departure
OPTTOcean Power Technologies, Inc.
Robert Powers departed his role as Chief Financial Officer on September 30, 2026, upon mutual agreement with the Board. The company terminated his employment letter without cause and entered into a severance agreement providing six months of base salary, the balance of his fiscal 2026 bonus, and continued health benefits through October 31, 2026. Powers will remain employed through October 14, 2026 to assist with the transition. Victoria Hay was appointed as interim Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer effective September 30, 2026. She will receive $30,000 per month in cash compensation plus expense reimbursement through her consulting firm, Flexible Consulting. The Board stated the departure was not due to any disagreement regarding operations or financial reporting. Ocean Power Technologies develops wave energy conversion systems for marine applications.