8-K: XCF Global Announces CFO Departure, Appoints Interim Successor

XCF Global, Inc. reported the termination of its CFO, William Dale, and the resignation of its CAO, Pamela Abowd, appointing Harvey Schnitzer as interim CFO.

Summary

• XCF Global, Inc. has made significant changes to its senior finance leadership.
• William Dale's employment as Chief Financial Officer (CFO) was terminated on April 9, 2026.
• Pamela Abowd, the Chief Accounting Officer (CAO), has resigned, with her departure effective April 30, 2026.
• Harvey Schnitzer has been appointed as the interim Chief Financial Officer, effective April 13, 2026, through an agreement with ZRG Interim Solutions.
• Mr. Schnitzer will also assume CAO responsibilities after Ms. Abowd's departure.
• The company will pay ZRG Interim Solutions $12,500 per week for Mr. Schnitzer's services.
• Mr. Schnitzer brings extensive experience as a financial and operational executive, including over three decades as CFO, COO, and Board Member in various companies.
• His prior roles include CFO at Farouk Systems, Inc. from July 2023 to July 2025, where he focused on strategic and financial leadership, expense reduction, and operational improvements.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While the departure of key finance executives can be concerning, the immediate appointment of an experienced interim CFO and the acknowledgment of their contributions mitigate immediate negative sentiment.

Positives

• Appointment of Harvey Schnitzer, a seasoned executive with extensive financial and operational experience, to lead the finance function.
• Mr. Schnitzer's background includes successfully leading organizations through growth, integration, restructuring, and strategic transformation.
• Schnitzer's previous role at Farouk Systems involved negotiating contracts, reducing expenses, and implementing initiatives that improved profitability and customer service.
• The company acknowledges the contributions of both departing executives, William Dale and Pamela Abowd, in positioning XCF for its next phase of growth.

Negatives

• Termination of the Chief Financial Officer, William Dale.
• Resignation of the Chief Accounting Officer, Pamela Abowd.
• The company is incurring a weekly cost of $12,500 for the interim CFO services.

Risks

• Potential disruption to financial operations and strategic initiatives due to sudden changes in key finance leadership.
• The reliance on an interim CFO through a third-party service provider may introduce integration challenges or continuity concerns.
• The cost associated with the interim CFO services could impact short-term profitability if not managed effectively.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding future financial performance. However, the appointment of an experienced interim CFO is intended to support the company's 'next phase of growth'.

Management Comments

• The Company and Board of Directors thank Mr. Dale for his leadership and service as Interim CFO, and for his contributions in helping to position XCF for its next phase of growth.
• The Company and Board of Directors thank Ms. Abowd for her leadership and service as CAO, and for her contributions in helping to position XCF for its next phase of growth.

Industry Context

StockSavvy.ai notes that executive turnover in key financial roles, particularly CFO and CAO positions, can be a signal of underlying strategic shifts or challenges within a company. The appointment of an interim executive through a specialized firm like ZRG Interim Solutions is a common practice to ensure continuity and leverage experienced leadership during transition periods.

Management Changes

Stakeholder Impact

• Shareholders: Potential short-term uncertainty due to executive changes, but mitigated by the appointment of an experienced interim CFO.
• Employees: May experience adjustments in reporting structures and team dynamics during the leadership transition.
• Creditors/Suppliers: Financial reporting and operational continuity are expected to be maintained due to the interim appointment.

Next Steps

• Harvey Schnitzer to assume CAO responsibilities upon Pamela Abowd's departure.
• Continued support from ZRG Interim Solutions for CFO services.
• Company to navigate its 'next phase of growth' with new interim financial leadership.

Key Dates

Recommendation

The filing reports significant changes in senior financial leadership with the termination of the CFO and resignation of the CAO. While an experienced interim CFO has been appointed, the uncertainty surrounding these departures and the transition period warrants a 'hold' recommendation until the company demonstrates stability and strategic clarity under the new leadership.

Keywords

XCF Global, CFO Appointment, Chief Financial Officer, Interim CFO, Executive Changes, Form 8-K, Corporate Governance, Financial Leadership