Ocean Power Technologies Names Victoria Hay as Interim CFO

Ocean Power Technologies has appointed Victoria Hay as Interim Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer following Robert Powers’ departure, effective September 30, 2026.

Ocean Power Technologies Inc. (OPTT) has appointed Victoria Hay as Interim Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer under an engagement agreement with Flexible Consulting LLC, effective September 30, 2026.

The company’s Board of Directors is conducting a search for a permanent Chief Financial Officer. Under the engagement agreement, Hay will provide her services through Flexible Consulting and will receive a monthly fee of $30,000 along with reimbursement of eligible monthly expenses.

Hay’s appointment follows the departure of Robert Powers as Chief Financial Officer, effective September 30, 2026. Powers left the role following a mutual agreement with the Board and will remain employed through October 14, 2026, to support the transition.

Under his separation agreement, Powers will receive six months of base salary and the remaining balance of his agreed fiscal 2026 bonus. The company will also continue his health benefits through October 31, 2026.