Worksport Appoints Experienced Finance VP Jennifer Kartychak as New CFO
WKSP sits 31% above its 52-week low of $0.825.
Summary
Worksport Ltd. announced the resignation of its CFO, Michael Johnston, and the appointment of Jennifer Kartychak, previously VP of Finance, as the new CFO. This move strengthens the company's financial leadership with an experienced CPA, directly addressing prior concerns about going concern and internal controls.
Key Events · Executive and Board Changes · WKSP
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CFO Transition
Michael Johnston resigned as Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer, effective April 30, 2026. His resignation was not due to any disagreements with the company.
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New CFO Appointed
Jennifer Kartychak, previously the company's Vice President of Finance, was appointed as the new Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer, effective May 1, 2026.
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Extensive Financial Expertise
Ms. Kartychak is a Certified Public Accountant with over 10 years of experience in public accounting, including 5 years as a Manager at Ernst & Young LLP, and 6 years as Corporate Accounting Manager at Moog Inc., bringing significant expertise in SEC reporting and financial management.
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Compensation Package
Her employment agreement includes an annual base salary of $220,000, a target annual cash bonus of $75,000, and an award of non-qualified stock options to purchase 100,000 shares. Additionally, her wholly-owned entity received a grant of 13,000 shares of common stock.
Analysis · WKSP · Manufacturing
This 8-K reports a significant executive change for Worksport Ltd., with Michael Johnston resigning as Chief Financial Officer and Jennifer Kartychak being appointed as his successor. Notably, Mr. Johnston's resignation was not due to any disagreements, which mitigates potential negative sentiment. Ms. Kartychak, previously the company's Vice President of Finance, brings extensive experience as a Certified Public Accountant, including a background at Ernst & Young LLP and Moog Inc., with a strong focus on public company reporting requirements. This appointment is particularly important given the company's previously disclosed 'going concern' issues and 'material weaknesses in internal controls' in its last 10-K. Her expertise is crucial for strengthening financial oversight and addressing these critical challenges, providing a positive signal for improved financial management and governance.
At the time of this filing, WKSP was trading at $1.08 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $13M. The 52-week trading range was $0.83 to $4.90. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.