Avantor names Todd Garner CFO, $1.5M equity grant
Avantor appoints Todd Garner as Chief Financial Officer with a multi-year cash and equity compensation package and ends the interim CFO arrangement.
Rhea-AI Filing Summary
Avantor, Inc. (AVTR) announced that Todd Garner has been appointed Executive Vice President and Chief Financial Officer, effective September 21, 2026, and will serve as the company’s principal financial officer and member of its Executive Leadership Team. Garner will oversee global finance functions including FP&A, accounting, treasury, tax, investor relations and internal audit.
Avantor entered into an employment letter with Garner on September 17, 2026, providing a $700,000 annual base salary, an annual cash bonus opportunity targeted at 80% of base salary (pro-rated for 2026), and a one-time $150,000 cash signing bonus subject to repayment if he departs within one year of the commencement date. He will receive an initial long-term equity grant with a target value of $1,500,000, split equally between restricted stock units vesting over two years and stock options issued at a 10% premium to the grant-date closing price, vesting over three years. In future years, he will be eligible for an annual long-term incentive grant targeted at $3,000,000. Steven Eck will cease serving as Interim Chief Financial Officer upon Garner’s commencement but will continue as Senior Vice President and Chief Accounting Officer.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
Radnor Corporate Center,
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 21, 2026, Avantor, Inc. (the “Company”), announced the appointment of Todd Garner as Executive Vice President and Chief Financial Officer, effective as of September 21, 2026 (the “Commencement Date”). Upon the Commencement Date, Mr. Garner will become a member of the Company’s Executive Leadership Team and serve as its principal financial officer.
Prior to joining the Company, Mr. Garner, age 57, served as Executive Vice President and Chief Financial Officer of CONMED Corporation, a medical technology company, from January 2018 until March 2026. Prior to that, Mr. Garner served in several roles at C.R. Bard, Inc, a specialty medical products company, from 2003 until 2017, including Vice President, Investor Relations from 2011 until 2017, Vice President, Controller (Division Chief Financial Officer) from 2007 until 2011, Director of Financial Reporting from 2005 to 2007, and Controller of the Reynosa Operations from 2003 to 2005. Mr. Garner holds a bachelor’s degree in accounting from Brigham Young University and an MBA from the University of Texas – Rio Grande Valley. Mr. Garner is also a Certified Public Accountant.
In connection with the appointment of Mr. Garner as Executive Vice President and Chief Financial Officer, on September 17, 2026, the Company entered into an employment letter agreement (the “Employment Letter”) with Mr. Garner. Pursuant to the Employment Letter, Mr. Garner’s annual base salary is $700,000 and he is eligible to participate in the Company’s incentive-based annual cash program beginning in 2026, pro-rated based on his start date, with an annual target bonus opportunity of 80% of his annual base salary. Mr. Garner will also receive a one-time cash signing bonus of $150,000, subject to certain repayment obligations in the event of his departure prior to the one-year anniversary of the Commencement Date.
The Employment Letter also provides for an initial long-term equity grant under the Company’s 2019 Equity Incentive Plan (the “Plan”) in the target amount of $1,500,000, half of which will be granted in the form of restricted stock units and half will be granted in the form of stock options issued at a 10% premium to the closing price of a share of the Company’s common stock on the grant date. The stock options will vest ratably over three years, and the restricted stock units will vest ratably over two years, in each case, subject to the Plan’s terms and conditions. In future years, Mr. Garner will be eligible to participate in the Company’s long-term incentive program, with a target annual grant of $3,000,000, allocated in the same manner applicable to all members of the Company’s Executive Leadership Team.
Mr. Garner will also be eligible to participate in the Company’s Executive Severance and Change in Control Plan, which is described in the Company’s current report on Form 8-K, filed with the Securities and Exchange Commission on May 12, 2025, and a copy of which will be filed with the Company’s quarterly report on Form 10-Q for the quarter ending June 30, 2026.
The foregoing description of the Employment Letter is a summary only and does not purport to be complete and is qualified in its entirety by reference to the full text, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
The Company confirms that (1) there is no arrangement or understanding between Mr. Garner and any other person pursuant to which he was appointed as Executive Vice President and Chief Financial Officer, (2) there is no family relationship between Mr. Garner and any director or executive officer of the Company, and (3) there are no transactions involving Mr. Garner that would require disclosure under Item 404(a) of Regulation S-K.
Upon the Commencement Date, Steven Eck, the Company’s Senior Vice President, Interim Chief Financial Officer and Chief Accounting Officer, will cease serving as the Interim Chief Financial Officer, but will continue in his position as Senior Vice President and Chief Accounting Officer.
Item 7.01. Regulation FD Disclosure.
On September 21, 2026, the Company issued a press release announcing the appointment of Mr. Garner. A copy of the press release is furnished herewith as Exhibit No. 99.1 to this Current Report on Form 8-K and incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description |
| 10.1 | Employment Letter, dated September 17, 2026 between the Company and Todd Garner |
| 99.1 | Press Release, dated September 21, 2026 |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Avantor, Inc. | ||
| Date: September 21, 2026 | By: | /s/ Claudius O. Sokenu |
| Name: Claudius O. Sokenu | ||
|
Title: Executive Vice President, Chief Legal and Compliance Officer and Secretary
| ||
EXHIBIT 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avantor appoints new Chief Financial Officer
RADNOR, Pa. – September 21, 2026 – Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, appoints Todd Garner as Executive Vice President and Chief Financial Officer, effective September 21, 2026. Garner will oversee the company’s global finance organization, including financial planning and analysis, accounting, treasury, tax, investor relations and internal audit.
Emmanuel Ligner, Avantor President and CEO, says: “Todd is a proven financial leader with deep operational expertise, a strong track record of driving growth and extensive experience partnering with boards, investors and management teams. He brings the strategic mindset, financial discipline and leadership capabilities needed to support our next phase of growth and value creation. I am delighted to welcome Todd to Avantor and look forward to working together as we execute our strategy and continue serving our customers around the world.”
Todd Garner says: “Avantor plays a critical role in advancing some of the most important work in the life sciences and advanced technologies industries. I am excited to join the Company and look forward to working with colleagues and partners worldwide to build on Avantor’s strong foundation and create long-term value for our customers and shareholders.”
Garner recently comes from CONMED Corporation, where he served as Executive Vice President and Chief Financial Officer from 2018-2026. He brings more than 30 years of finance, operational and public company leadership experience. Garner’s previous experience includes a variety of leadership roles at C. R. Bard, Inc., including Vice President, Investor Relations and Division CFO, where he helped support significant shareholder value creation and business growth. Garner holds a bachelor of science in accounting from Brigham Young University, a master of business administration from the University of Texas Rio Grande Valley, and is a certified public accountant.
Steve Eck, Senior Vice President and Chief Accounting Officer (CAO), has been serving as Interim CFO since June 24, 2026, and will continue in his CAO role. Ligner says: "Steve stepped up and led the finance organization with a steady hand and great commitment. We thank him for his leadership during the transition period and are pleased he’ll continue in this valuable role as our CAO.”
Meet the full Avantor Leadership team at https://corporate.avantorsciences.com/us/en/about/leadership
About Avantor
Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedIn, X (Twitter) and Facebook.
Investors:
avantorir@avantorsciences.com
Media Inquiries:
media@avantorsciences.com
SOURCE: Avantor and Financial News