Forward Industries Appoints Mark Brazier as CFO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 14 2026
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Should l Buy FWDI?
Forward Industries announced the appointment of Mark Brazier as CFO, effective April 13. Brazier will succeed Kathleen Weisberg, who has been with Forward since 2020 and will continue to support the company as its director of financial reporting. Brazier most recently served as CFO and head of regulatory at XBTO Global.
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Analyst Views on FWDI
About FWDI
Forward Industries, Inc. is a Solana (SOL) focused digital asset treasury company. It is focused on buying, holding, stake, trade, investing in, and growing SOL and SOL related digital assets, protocols and businesses. It is building and managing the Solana treasury for long-term shareholder value. The Company has two reportable segments: digital assets and design. The digital assets segment captures SOL-based yield generated by participating in the Solana network’s staking protocol, which comprises rewards received from native staking. The design segment consists of two operating segments (IPS and Kablooe) that provide a full spectrum of hardware and software product design and engineering services to customers predominantly located in the United States.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Forward Industries Appoints New CFO Mark Brazier Effective April 2026
- Executive Change: Forward Industries has appointed Mark Brazier as Chief Financial Officer effective April 13, 2026, succeeding Kathleen Weisberg, who has been with the company since 2020 and will continue as Director of Financial Reporting, ensuring continuity and stability in financial management.
- Extensive Experience: Prior to joining Forward Industries, Brazier served as CFO and Head of Regulatory at XBTO Global, showcasing his strong background in finance, which will aid the company in making informed decisions in its future financial strategies.
- Support from Predecessor: Kathleen Weisberg will continue to support the company as Director of Financial Reporting, ensuring accuracy and compliance during the transition period, thereby mitigating potential risks associated with executive changes.
- Market Reaction: This executive change may impact investor confidence in Forward Industries, especially against the backdrop of the company's plan to repurchase 6.16 million shares, with expectations of the new CFO directly influencing future stock performance.
See More
Forward Industries Appoints New CFO to Drive Financial Operations
- Executive Appointment: Forward Industries appointed Mark Brazier as Chief Financial Officer effective April 13, 2026, succeeding Kathleen Weisberg, who will continue as Director of Financial Reporting, ensuring continuity and stability in the company's financial operations.
- Rich Financial Background: Brazier's experience as CFO at XBTO Global, where he oversaw global financial operations and compliance, showcases his deep expertise in both digital assets and traditional finance, providing robust support for Forward's capital markets activities.
- Strategic Development: His appointment is seen as a crucial step for the company in expanding its Solana treasury operations and enhancing financial reporting standards, which is expected to drive further growth and value creation in the digital asset space.
- Market Leadership: As the world's largest publicly traded Solana treasury company, Forward Industries will benefit from Brazier's leadership in strengthening its position in SOL asset accumulation and innovative yield strategies, ultimately enhancing shareholder value.
See More
FORWARD INDUSTRIES INC - KATHLEEN WEISBERG RESIGNS AS CFO, EFFECTIVE APRIL 13, 2026 - SEC FILING
Departure Announcement: Kathleen Weisberg is set to leave her position as Chief Financial Officer (CFO) at Forward Industries, effective April 13, 2026.
SEC Filing: The announcement of Weisberg's departure has been documented in a filing with the Securities and Exchange Commission (SEC).
See More
Forward Industries to Repurchase 6.16 Million Shares for $27.4 Million
- Share Repurchase Agreement: Forward Industries has entered into a deal to repurchase 6,164,324 shares of common stock from an institutional investor for $27.4 million, which will reduce the company's outstanding shares from 83,142,133 to 76,977,809, thereby enhancing shareholder value and improving per-share metrics.
- SOL Holdings: As of March 18, Forward Industries holds 7,013,536 SOL, with fully diluted shares outstanding totaling 105,894,207, resulting in a SOL-per-share valuation of $0.0662 and an annualized increase of approximately 29%, indicating the company's potential in the cryptocurrency market.
- Expected Decline in Operating Expenses: The company anticipates a significant reduction in operating expenses over the coming quarters, with SG&A expenses (excluding stock-based compensation and design segment costs) projected to decrease by about 45% from $6.5 million in fiscal Q1 to an estimated $3.6 million by fiscal Q3, reflecting the effectiveness of its broader cost-cutting strategy.
- Cost Reduction Strategy: This expense reduction plan includes cuts in fees under the services agreement with Galaxy Digital LP, lower outside legal costs, reduced marketing expenditures, and decreased third-party vendor expenses, all aimed at enhancing operational efficiency and profitability.
See More
U.S. Private Sector Hiring Shows Modest Recovery
- Hiring Data Recovery: In February, U.S. private sector added 63,000 jobs, exceeding market expectations and marking the strongest growth since last summer, although manufacturing lost 5,000 positions, indicating uneven hiring across sectors.
- Sector Performance Divergence: Growth was driven by education, health services, and construction, while the manufacturing sector's job losses highlight the need for more cautious stock selection, particularly in manufacturing where clear disparities exist between outperformers and laggards.
- Quant Scores Reveal Risks: According to Seeking Alpha's Quant Ratings, Forward Industries (FWDI) and Lucid Group (LCID) ranked lowest with scores of 1.05 and 1.06, respectively, signaling strong sell recommendations and indicating significant issues in valuation and profitability metrics.
- Manufacturing Stock Rankings: Among manufacturing stocks, Harley-Davidson (HOG) follows with a score of 1.70, while Kimball Electronics (KE) and Rivian Automotive (RIVN) are rated hold with scores of 2.67 and 2.91, reflecting competitive pressures and investor caution within the industry.
See More
Forward Industries Aims to Be the 'Berkshire Hathaway' of the Solana Ecosystem
- Massive Unrealized Losses: Forward Industries' investment in Solana has a cost basis of approximately $1.59 billion, while its current market value is around $605 million, resulting in nearly $1 billion in unrealized losses, highlighting the company's high-risk exposure in the crypto market.
- Strategic Positioning: CIO Navi articulated a long-term vision for Forward as a permanent capital vehicle, asserting that Solana is best positioned as the blockchain for the future of internet capital markets, reflecting the company's confidence in future market dynamics.
- Debt-Free Advantage: Forward Industries operates with no corporate debt, and this unleveraged financial structure is viewed as a critical advantage as competitors retrench, further solidifying its leadership position within the Solana ecosystem.
- Severe Stock Volatility: FWDI's stock price has plummeted 91% from its peak of $46 to the current $4.28, with a 31% decline in 2026 alone, indicating market concerns about its future prospects, while technical indicators suggest a lack of buying interest in the short term.
See More
Forward Industries Appoints New CFO Mark Brazier Effective April 2026
- Executive Change: Forward Industries has appointed Mark Brazier as Chief Financial Officer effective April 13, 2026, succeeding Kathleen Weisberg, who has been with the company since 2020 and will continue as Director of Financial Reporting, ensuring continuity and stability in financial management.
- Extensive Experience: Prior to joining Forward Industries, Brazier served as CFO and Head of Regulatory at XBTO Global, showcasing his strong background in finance, which will aid the company in making informed decisions in its future financial strategies.
- Support from Predecessor: Kathleen Weisberg will continue to support the company as Director of Financial Reporting, ensuring accuracy and compliance during the transition period, thereby mitigating potential risks associated with executive changes.
- Market Reaction: This executive change may impact investor confidence in Forward Industries, especially against the backdrop of the company's plan to repurchase 6.16 million shares, with expectations of the new CFO directly influencing future stock performance.
See More
Forward Industries Appoints New CFO to Drive Financial Operations
- Executive Appointment: Forward Industries appointed Mark Brazier as Chief Financial Officer effective April 13, 2026, succeeding Kathleen Weisberg, who will continue as Director of Financial Reporting, ensuring continuity and stability in the company's financial operations.
- Rich Financial Background: Brazier's experience as CFO at XBTO Global, where he oversaw global financial operations and compliance, showcases his deep expertise in both digital assets and traditional finance, providing robust support for Forward's capital markets activities.
- Strategic Development: His appointment is seen as a crucial step for the company in expanding its Solana treasury operations and enhancing financial reporting standards, which is expected to drive further growth and value creation in the digital asset space.
- Market Leadership: As the world's largest publicly traded Solana treasury company, Forward Industries will benefit from Brazier's leadership in strengthening its position in SOL asset accumulation and innovative yield strategies, ultimately enhancing shareholder value.
See More
FORWARD INDUSTRIES INC - KATHLEEN WEISBERG RESIGNS AS CFO, EFFECTIVE APRIL 13, 2026 - SEC FILING
Departure Announcement: Kathleen Weisberg is set to leave her position as Chief Financial Officer (CFO) at Forward Industries, effective April 13, 2026.
SEC Filing: The announcement of Weisberg's departure has been documented in a filing with the Securities and Exchange Commission (SEC).
See More
Forward Industries to Repurchase 6.16 Million Shares for $27.4 Million
- Share Repurchase Agreement: Forward Industries has entered into a deal to repurchase 6,164,324 shares of common stock from an institutional investor for $27.4 million, which will reduce the company's outstanding shares from 83,142,133 to 76,977,809, thereby enhancing shareholder value and improving per-share metrics.
- SOL Holdings: As of March 18, Forward Industries holds 7,013,536 SOL, with fully diluted shares outstanding totaling 105,894,207, resulting in a SOL-per-share valuation of $0.0662 and an annualized increase of approximately 29%, indicating the company's potential in the cryptocurrency market.
- Expected Decline in Operating Expenses: The company anticipates a significant reduction in operating expenses over the coming quarters, with SG&A expenses (excluding stock-based compensation and design segment costs) projected to decrease by about 45% from $6.5 million in fiscal Q1 to an estimated $3.6 million by fiscal Q3, reflecting the effectiveness of its broader cost-cutting strategy.
- Cost Reduction Strategy: This expense reduction plan includes cuts in fees under the services agreement with Galaxy Digital LP, lower outside legal costs, reduced marketing expenditures, and decreased third-party vendor expenses, all aimed at enhancing operational efficiency and profitability.
See More
U.S. Private Sector Hiring Shows Modest Recovery
- Hiring Data Recovery: In February, U.S. private sector added 63,000 jobs, exceeding market expectations and marking the strongest growth since last summer, although manufacturing lost 5,000 positions, indicating uneven hiring across sectors.
- Sector Performance Divergence: Growth was driven by education, health services, and construction, while the manufacturing sector's job losses highlight the need for more cautious stock selection, particularly in manufacturing where clear disparities exist between outperformers and laggards.
- Quant Scores Reveal Risks: According to Seeking Alpha's Quant Ratings, Forward Industries (FWDI) and Lucid Group (LCID) ranked lowest with scores of 1.05 and 1.06, respectively, signaling strong sell recommendations and indicating significant issues in valuation and profitability metrics.
- Manufacturing Stock Rankings: Among manufacturing stocks, Harley-Davidson (HOG) follows with a score of 1.70, while Kimball Electronics (KE) and Rivian Automotive (RIVN) are rated hold with scores of 2.67 and 2.91, reflecting competitive pressures and investor caution within the industry.
See More
Forward Industries Aims to Be the 'Berkshire Hathaway' of the Solana Ecosystem
- Massive Unrealized Losses: Forward Industries' investment in Solana has a cost basis of approximately $1.59 billion, while its current market value is around $605 million, resulting in nearly $1 billion in unrealized losses, highlighting the company's high-risk exposure in the crypto market.
- Strategic Positioning: CIO Navi articulated a long-term vision for Forward as a permanent capital vehicle, asserting that Solana is best positioned as the blockchain for the future of internet capital markets, reflecting the company's confidence in future market dynamics.
- Debt-Free Advantage: Forward Industries operates with no corporate debt, and this unleveraged financial structure is viewed as a critical advantage as competitors retrench, further solidifying its leadership position within the Solana ecosystem.
- Severe Stock Volatility: FWDI's stock price has plummeted 91% from its peak of $46 to the current $4.28, with a 31% decline in 2026 alone, indicating market concerns about its future prospects, while technical indicators suggest a lack of buying interest in the short term.
See More
