aibioLifeward chief executive Mark Grant departs, Josh Hexter named interim
Tickers LFWD
Mark Grant leaves as president, chief executive and director effective August 31, 2026, and Josh Hexter becomes interim chief executive on September 1. Rami Aviram is named chief financial officer effective November 1, 2026.
Key facts
- Company
- Lifeward Ltd. (NASDAQ: LFWD)
- News type
- Company Updates
- Primary source
- Lifeward Ltd. 8-K (2026-08-31)
Lifeward Ltd. said in a Form 8-K filed August 31, 2026 that Mark Grant will depart as the company's president, chief executive officer and member of its board of directors, effective August 31, 2026. The board appointed Josh Hexter as interim chief executive officer and principal executive officer, effective September 1, 2026. On the same day, the board appointed Rami Aviram as chief financial officer, effective November 1, 2026.
Mark Grant's departure
Grant entered into a separation agreement with the company on August 31, 2026. The filing says his departure is not the result of any disagreement with the company on its operations, policies or practices. Under a consulting agreement effective September 1, 2026, Grant will support the company as a Senior Advisor through September 30, 2026, providing transition assistance and other consulting services for a fee of $40,000.
Grant's outstanding equity awards stop vesting as of August 31, 2026, and any unvested awards are forfeited as of that date. The separation agreement contains customary mutual releases. Grant will receive no cash severance and no continued employee benefits, other than compensation accrued through his separation date and the consulting fee. Copies of both agreements will be filed as exhibits to the company's quarterly report on Form 10-Q for the quarter ending September 30, 2026.
Hexter's appointment
Hexter, age 56, is chief operating and business officer of Oramed Pharmaceuticals Inc., which the filing describes as the controlling shareholder of Lifeward. He has held that Oramed position since September 2019. After his appointment, he will substantially reduce his responsibilities at Oramed, which the filing expects to represent about 5% of his current responsibilities.
The filing describes nearly three decades of life sciences leadership and business development experience, including chief business officer of BrainsWay Ltd. from November 2018 to September 2019.
Hexter's employment agreement provides a gross monthly base salary of NIS 100,000, plus a monthly commuting allowance of NIS 5,000 or, alternatively, a company car, and customary benefits under Israeli law and company policies. He is eligible for an annual bonus at the board's discretion, subject to the company's compensation policy. The agreement has a 60-day notice period.
The compensation committee and the board approved the agreement, effective September 1, 2026, until the company's next general meeting of shareholders. The agreement will be submitted for shareholder approval at the next general meeting.
Chief financial officer
The board appointed Rami Aviram, age 47, as chief financial officer, principal financial officer and principal accounting officer, effective November 1, 2026. He will succeed Almog Adar, whose previously announced departure becomes effective September 30, 2026, as disclosed in a Form 8-K filed August 14, 2026. The filing says the company intends to appoint an interim principal financial officer.
Financial position
Lifeward's annual report on Form 10-K, filed March 18, 2026, reported revenue of $22.0 million for 2025 and $25.7 million for 2024. The net loss was $19.9 million for 2025 and $28.9 million for 2024. Cash from operations was negative $16.8 million for 2025 and negative $21.7 million for 2024.
Year-end cash and cash equivalents were $2.2 million at December 31, 2025 and $6.7 million at December 31, 2024. The company's quarterly report on Form 10-Q, filed August 14, 2026, shows cash and cash equivalents of $9.4 million at June 30, 2026.
Questions the filing does not answer
Lifeward is changing its chief executive and, within weeks, its chief financial officer, and the filing says only that Grant's exit is not the result of a disagreement. It gives no reason for the move and says nothing about a search for a permanent chief executive. The interim chief comes from Oramed, which the filing calls the controlling shareholder, so the company's day-to-day leader is tied to its largest owner. Almog Adar leaves on September 30, 2026, and Aviram starts on November 1, so the company has yet to name an interim principal financial officer for the gap.
The business is weak: revenue fell to $22.0 million in 2025 from $25.7 million, the net loss was $19.9 million, and operations used $16.8 million of cash against year-end cash of $2.2 million. Hexter's agreement still needs shareholder approval at the next general meeting.