CSP Inc. (NASDAQ: CSPI) has filed an 8-K report detailing significant changes in its leadership team. On March 10, 2026, Michael Newbanks, the Vice President of Finance and Chief Accounting Officer, announced his resignation effective May 15, 2026. Newbanks is leaving the company to spend more time with his family and pursue other opportunities. He has been with CSP Inc. since July 2017 and has played a crucial role in the company's financial operations. The company has confirmed that his departure is not due to any disagreements regarding its operations or policies.

In a proactive move, CSP Inc. has appointed Eric Sachs as the new Vice President and Chief Accounting Officer, effective May 15, 2026. Sachs, who is a Certified Public Accountant (CPA), brings a wealth of experience from his previous roles, including Director of Finance at Trajector, Inc. and Nicholas Financial, Inc. His annual base salary will be $195,000, with the potential for a bonus based on performance metrics. Additionally, he will receive 8,000 shares of restricted stock, which will vest over four years.

The board of directors also appointed James J. LaBonty as a new director to fill a vacancy. LaBonty, who has extensive experience in engineering and cybersecurity, will serve on the nominating and compensation committees. These leadership changes are expected to enhance CSP Inc.'s strategic direction and operational execution as the company continues to navigate its growth trajectory in the technology sector.

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