Qnity CFO Steps Down; Firm Holds Steady on Financial Outlook

WILMINGTON, Del. – January 16, 2026 – Qnity Electronics (NYSE: Q), a key player in the semiconductor value chain, announced today that Chief Financial Officer Matt Harbaugh has stepped down from his role to focus on his health. The company moved swiftly to ensure leadership continuity, appointing Principal Accounting Officer and Controller Mike Goss as Interim CFO, effective immediately.

In a move designed to calm investor nerves, the newly independent company also reaffirmed its robust full-year 2025 financial guidance, signaling confidence in its operational stability and strategic direction despite the high-level executive transition. The announcement comes just over two months after Qnity completed its much-anticipated spin-off from industrial giant DuPont.

A Test of Stability for a New Public Company

The departure of a CFO is a significant event for any public company, but it carries particular weight for Qnity, which began trading as an independent entity on the New York Stock Exchange on November 3, 2025. Harbaugh was a central figure in navigating the complex financial architecture of the separation from DuPont, a process that created a focused, pure-play technology provider targeting a total addressable market exceeding $30 billion.

In a statement, Qnity’s Chief Executive Officer Jon Kemp acknowledged Harbaugh’s critical contributions during this formative period. “Matt’s leadership and deep experience guiding complex spin‑offs have been valuable as we transitioned into a new independent company,” Kemp said. “On behalf of the entire team, we wish him well and fully support his decision to focus on his health.”

The spin-off was designed to unlock value by allowing Qnity to concentrate its resources on the high-growth semiconductor market, empowering advancements in artificial intelligence, high-performance computing, and advanced connectivity. Harbaugh’s departure marks the first major leadership test for the company in its new form.

“It has been a privilege to work alongside this strong management team to launch Qnity,” Harbaugh stated, expressing his belief in the company’s path forward. “I remain confident in the company’s continued success and strategy for value creation.”

A Steady Hand at the Helm

To fill the void, Qnity has turned inward, tapping a seasoned veteran from its own ranks. Interim CFO Mike Goss brings nearly three decades of financial experience, making him a familiar and stabilizing force for the organization. His deep institutional knowledge is seen as a crucial asset during the transition.

Goss’s career includes a significant 14-year tenure at Qnity's former parent company, DuPont, where he held multiple senior financial positions. Most recently, he served as Vice President, Principal Accounting Officer, and Controller from December 2018 until the spin-off in late 2025. His background also includes time at professional services firm Ernst & Young. This extensive experience, particularly in portfolio transformation and maintaining financial rigor within a large, complex organization, positions him as a capable steward of Qnity’s finances while the company conducts a comprehensive search for a permanent CFO.

CEO Jon Kemp praised the appointment, highlighting Goss’s qualifications. “Mike is a seasoned financial leader recognized for his experience across core disciplines and a proven track record of leading financial operations to drive strategic growth, company performance, and long-term value,” Kemp noted. “His deep understanding of our business and financial operations will ensure a smooth transition as we continue to execute against our strategic priorities.”

Market Confidence and Financial Outlook

The market reacted positively to the company's decisive handling of the transition. In premarket trading following the announcement, Qnity’s shares saw a modest uptick, a sign that investors were reassured by the appointment of a qualified internal candidate and the steadfast financial forecast. The company's explicit statement that Harbaugh’s departure was unrelated to its financial statements or internal controls further bolstered confidence.

This sentiment aligns with a generally bullish view from analysts, who largely hold “Moderate Buy” to “Strong Buy” ratings on the stock. Many believe the company is well-positioned for growth as a high-margin, consumables-focused business in the semiconductor supply chain.

Crucially, Qnity reaffirmed its full-year 2025 financial guidance, projecting approximately $4.7 billion in Net Sales and around $1.4 billion in Adjusted Pro Forma Operating EBITDA. This forecast is consistent with the outlook provided during its third-quarter business update on November 6, 2025, where the company had actually raised its sales estimate from a prior $4.6 billion. The consistent messaging underscores a belief that the company’s underlying business fundamentals remain strong and on track. Leadership plans to provide a more detailed review during its fourth-quarter and full-year 2025 earnings call scheduled for February 26, 2026.

Riding the Semiconductor Wave

Qnity's leadership transition is occurring against the backdrop of a booming semiconductor industry. Global demand is surging, driven by an insatiable appetite for the advanced chips that power artificial intelligence, data centers, and next-generation connectivity. Industry analysts project explosive growth, with some forecasts suggesting the worldwide semiconductor market could approach $1 trillion in annual sales by the end of the decade.

Gartner, a leading research firm, estimated that AI chip revenue alone would surpass $150 billion in 2025, accounting for a significant and growing portion of the entire market. This secular trend benefits every part of the value chain, from design to fabrication to the specialized materials and solutions that Qnity provides.

With approximately two-thirds of its portfolio tied directly to semiconductors and about 15% of its revenue linked to chips for data centers and high-performance computing, Qnity is directly in the path of this growth. The company’s focus on high-performance materials and integration expertise for chip manufacturing and complex electronic systems positions it as a critical enabler of the technologies defining the future. This powerful industry tailwind provides a stable foundation for the company as it navigates its internal leadership evolution and continues to execute its long-term strategy.