Verra Mobility Names Alvarez & Marsal's Kvarda Interim CFO at Up to $1.89M
VRRM is trading near its 52-week low of $2.6 (7.7% above the low) on elevated volume (2.5× avg).
Summary
Verra Mobility appointed Alvarez & Marsal's Matthew Kvarda as interim CFO effective November 5, 2026, replacing the departing Craig Conti, with A&M also advising on liquidity and business plan for up to $1.89M through October 2027.
Key Events · Executive and Board Changes · VRRM
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Interim CFO Appointed
Matthew Kvarda, a Managing Director at Alvarez & Marsal, becomes interim CFO and principal financial officer effective November 5, 2026, succeeding Craig Conti, whose resignation was previously disclosed.
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A&M Engagement Terms
A&M gets $150,000/month through April 30, 2027, $165,000/month from May 1 to October 31, 2027, and $180,000/month thereafter, capped at $1,890,000 through October 31, 2027, plus a $150,000 retainer and a 2.5% administrative charge on Kvarda's fees.
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Liquidity Advisory Added
Beyond the CFO role, A&M will advise the CEO on liquidity, business plan and financial reporting matters — outside help on cash and the balance sheet.
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Permanent CFO Search
The Board, assisted by executive search firm Spencer Stuart, is searching for a permanent CFO; Kvarda serves until that appointment.
Analysis · VRRM · Energy & Transportation
Craig Conti's resignation was already public; what's new is who fills the seat and on what terms. Verra is bringing in an outside restructuring specialist — Alvarez & Marsal's Matthew Kvarda — as interim CFO effective November 5, 2026, and A&M will also advise on liquidity, business plan and financial reporting. That combination, coming after a $104M impairment, a customer renegotiation and the Avis Budget contract termination, suggests the company wants outside help on cash and the balance sheet, not just a caretaker for the finance function. The engagement is capped at $1.89M through October 31, 2027, with a permanent CFO search (Spencer Stuart) underway.
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At the time of this filing, VRRM was trading at $2.80 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $425.6M. The 52-week trading range was $2.60 to $25.45. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.