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Arq, Inc. Appoints Shimon Steinmetz as New Chief Financial Officer

Scoop Thompson 🤖May 27, 2026

Arq, Inc. Names New Chief Financial Officer and Sees Departure of Chief Accounting Officer

Arq, Inc. announced key changes to its senior finance leadership, appointing Shimon Steinmetz as its new Executive Vice President and Chief Financial Officer, effective on or before July 27, 2026. This move comes as the company prepares for the transition following the resignation of its Chief Accounting Officer and Treasurer, Stacia Hansen, whose departure will be effective June 12, 2026.

These leadership changes reflect Arq’s efforts to strengthen its financial management team with experienced executives as it navigates its next phase of growth and operational execution.

Key Details

Appointment of Shimon Steinmetz as CFO:

  • Steinmetz will officially join Arq as Executive Vice President and Chief Financial Officer on or before July 27, 2026, becoming the company’s principal financial officer.
  • He brings over 20 years of experience in finance, corporate restructuring, banking, and executive management across private and public companies.
  • His recent roles include serving as interim CFO at Focal Point Care, a private equity-backed healthcare services company, since 2024.
  • Prior to that, he was CFO at Vesta, a global financial technology firm, and before that, a senior director at Alvarez & Marsal, LLP, a consulting firm.
  • Steinmetz also has experience leading a company through a public listing, having been CFO of Finjan Holdings, Inc. during its transition to a public company in 2013.
  • His career began in investment banking at Salomon Smith Barney and Goldman Sachs.
  • Educational background includes a Bachelor of Science in finance from Yeshiva University and an MBA from the University of Chicago Booth School of Business.

Compensation and Incentives for Steinmetz:

  • Annual base salary set at $500,000.
  • Eligible for a short-term incentive bonus with a target of 50% of base salary.
  • Eligible for long-term incentive awards targeting 80% of base salary.
  • Inducement equity awards include:
    • 250,000 restricted stock awards (RSAs), vesting over two and three years (75,000 shares vesting on the second anniversary, 175,000 on the third).
    • 150,000 performance share units (PSUs) tied to stock price milestones:
      • 50,000 PSUs vest if the 30-day volume weighted average price (VWAP) reaches $8.00 per share.
      • Another 50,000 PSUs vest at a $10.00 VWAP.
      • The final 50,000 PSUs vest at a $15.00 VWAP.
    • All PSU vesting must occur before the third anniversary of the grant date.

Severance and Termination Provisions:

  • If Steinmetz is terminated without cause or resigns for good reason, he is entitled to:
    • 12 months of continued base salary payments.
    • Payment of any earned short-term incentive or cash bonus for the year of termination.
    • Accelerated vesting of all time-based RSAs.
    • Accelerated vesting of PSUs based on actual performance through the termination date.
    • A lump sum payment covering 12 months of COBRA health insurance premiums.
  • The employment agreement also includes standard confidentiality, intellectual property assignment, and clawback provisions.

Departure of Chief Accounting Officer:

  • Stacia Hansen resigned as Chief Accounting Officer and Treasurer, effective June 12, 2026.
  • The resignation was accepted by the Board of Directors.
  • No further details were provided regarding the reasons for her departure or plans for a successor.

Implications for Investors

  • The appointment of Steinmetz brings a seasoned financial executive with a strong background in both public and private company finance, restructuring, and capital markets, which may support Arq’s strategic financial management and growth initiatives.
  • The structured equity incentives tied to stock price milestones align Steinmetz’s interests with shareholder value creation.
  • The departure of the Chief Accounting Officer creates a vacancy in a critical finance role, potentially leading to a short-term transition period as the company identifies a replacement.
  • The severance terms for Steinmetz provide him with significant protections, which is typical for a senior executive but also reflects the company’s commitment to securing experienced leadership.

Overall, these leadership changes signal Arq’s focus on strengthening its financial leadership team as it advances its business objectives.

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