Cadiz, Inc. Announces New CFO to Lead Financial Strategy Amid Growth

Exciting Leadership Change at Cadiz, Inc.

Cadiz, Inc., a prominent water solutions and natural resources firm, has unveiled a critical leadership change with the appointment of Jacinto J. Hernandez as its new Chief Financial Officer (CFO), effective September 1, 2026. Hernandez takes over from Stanley E. Speer, who has played a pivotal role in transforming the company over his 17-year tenure before his upcoming retirement.

The leadership transition comes at a significant time as Cadiz is poised to embark on an essential growth phase, particularly with its ambitious projects aimed at addressing pressing water supply challenges in the Southwestern United States. The company’s CEO, Susan Kennedy, expressed enthusiasm about Hernandez’s unique expertise in capital markets. She highlights that his extensive experience will be invaluable as Cadiz aims to maximize growth potential and shareholder returns in the coming years.

Hernandez brings a wealth of knowledge, having dedicated over 26 years to capital markets, where he has a proven track record in funding large infrastructure projects, guiding strategic direction for companies, and enhancing long-term value for investors. His accumulated experience uniquely positions him to lead Cadiz's financial strategy as it advances into construction and operational execution phases—following years of developmental efforts.

In stepping into this new role, Hernandez emphasized the importance of Cadiz’s signature project, the Mojave Groundwater Bank. This initiative aims to tackle one of the most urgent water supply issues facing the region due to climate change and overuse of existing resources in the Colorado River Basin. Cadiz has dedicated decades to planning and permitting this innovative project, which Hernandez believes is a crucial part of the solution to water shortages.

In addition to Hernandez’s promotion, Cadiz has also elevated Teffiny Bagnara to Vice President, ensuring a smooth transition in leadership. Bagnara’s promotion reflects the company's commitment to nurturing talent and fostering growth within its ranks.

Hernandez’s professional background includes founding Cummings Consulting Management, where he consulted corporations on capital allocation and strategic decisions. Before that, he spent 22 years with Capital Group, focusing on investment strategies that enhanced long-term shareholder value. His considerable expertise has also led him to serve on various boards of significant companies, further broadening his strategic and operational insights.

As part of his compensation package at Cadiz, Hernandez will be granted 800,000 restricted stock units (RSUs) and 800,000 performance stock units (PSUs), reinforcing the company's confidence in his potential to drive long-term value. These awards, subject to approval and performance criteria, align his interests with those of the shareholders, demonstrating a commitment to achieving shared goals.

Cadiz, Inc. has been at the forefront of developing sustainable water solutions, owning significant land and pipeline assets in California’s Mojave Desert. With flagship projects like Cadiz Ranch and the Mojave Groundwater Bank, the company remains dedicated to innovative solutions that address critical water challenges facing communities, businesses, and farmers alike.

As Cadiz enters this new chapter, stakeholders can anticipate a renewed focus on sustainable growth and innovative water management solutions that not only contribute to operational success but also promote conservation for future generations. The leadership transition exemplifies Cadiz’s commitment to its mission of providing essential water solutions in an era of increasing environmental challenges. With Hernandez at the financial helm, Cadiz is ready to navigate the complexities of today's market while ensuring that its core values of sustainability and innovation remain intact.

For additional details on Cadiz and its projects, visit Cadiz Inc.'s official website.