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Get filing alertsFunctional Brands CFO Tariq Rahim resigns, David Wells appointed as replacement
Filed May 20, 2026 · Period ending May 17, 2026 · ~1 min read
Key Changes
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high
CFO Tariq Rahim resigned from the Board on May 17 and stepped down as CFO on May 18, transitioning to VP Finance (non-executive role). Company states no disagreement on operations or financial reporting.
Item 5.02 verify on EDGAR → -
high
David R. Wells appointed as new CFO, Principal Financial Officer, and Board member effective May 18. Wells brings 30+ years finance experience, previously served as CFO at Envoy Medical and ENDRA Life Sciences.
Item 5.02 verify on EDGAR → -
medium
No compensation arrangement finalized for new CFO Wells at time of filing. Company will file amendment once material terms are determined.
Item 5.02 verify on EDGAR →
Summary
Functional Brands Inc. announced a leadership transition in its finance organization. CFO Tariq Rahim resigned from the Board on May 17 and stepped down from his CFO role the following day, moving into a non-executive Vice President of Finance position. The company emphasized that Rahim's departure was not due to any disagreement regarding operations, policies, or financial reporting. David R.
Wells was immediately appointed as the new CFO and joined the Board effective May 18. Wells brings substantial public company experience, having previously served as CFO at Envoy Medical and ENDRA Life Sciences. However, the company has not yet finalized his compensation package, which will be disclosed in an amended filing once determined.
Retail investors should monitor the amended 8-K for Wells' compensation terms and watch for the company's next quarterly earnings report to assess financial reporting continuity under new leadership. The quick transition and Rahim's retention in a finance role suggests an orderly handoff, but CFO changes always warrant attention to subsequent financial disclosures.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 17, 2026, Tariq Rahim submitted his letter of resignation as a member of the Board of Directors (“Board”) of Functional Brands Inc. (the “Company”), effective immediately. Effective May 18, 2026, Mr. Rahim also ceased serving as the Company’s Chief Financial Officer and transitioned to the role of Vice President, Finance, a non-executive officer position.
Tariq Rahim resigned from the Board effective May 17, 2026, and ceased serving as CFO effective May 18, 2026, transitioning to Vice President, Finance. The company states this was not due to any disagreement regarding operations, policies, practices, or financial reporting.
Event · Item 9.01 — Financial Statements and Exhibits
Tariq Rahim resigned from Functional Brands Inc. effective May 17, 2026.
Added in current filing · verify on EDGAR →
Letter of Resignation of Tariq Rahim, dated May 17, 2026
The company disclosed the resignation of Tariq Rahim effective May 17, 2026. The 8-K does not specify Rahim's role or the circumstances of the departure, but the filing of a resignation letter as an exhibit indicates a formal separation. Without additional context about whether Rahim held a principal officer position (CEO, CFO, etc.), the materiality depends on his role within the organization.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 26, 2026 · How we verify