Leadership changes at Fortrea Holdings Inc. (2026)

Appointed: Carrie Russell, Chief Accounting Officer, effective 2026-10-05

Effective October 5, 2026, Fortrea Holdings Inc. (the "Company") appointed Carrie Russell as its Chief Accounting Officer.

Also stated in this filing

• Ms. Russell has served as the Company's interim Chief Accounting Officer and interim principal accounting officer since August 7, 2026, while continuing in her role as Vice President of Accounting.
• She will continue to serve as the Company's principal accounting officer.
• In connection with Ms. Russell's appointment as Chief Accounting Officer, the Company entered into employment arrangements with Ms. Russell that are substantially consistent with those applicable to its other executive officers.
• Ms. Russell's compensation package includes an annual base salary of $340,000 and an annual incentive bonus target at 40% of base salary.
• Ms. Russell is also eligible to participate in the Company's other benefit plans and programs as described in the Company's Definitive Proxy Statement for the 2026 Annual Meeting of Stockholders filed on Schedule 14A with the SEC on April 27, 2026.

Appointed: Jason Knoblauch, Chief Financial Officer

On September 9, 2026, the Board of Directors (the "Board") of Fortrea Holdings, Inc. (the "Company") reinstated Jason Knoblauch as Chief Financial Officer and designated Mr. Knoblauch as principal financial officer of the Company.

Also stated in this filing

• As previously disclosed, on July 25, 2026, the Delaware Court of Chancery granted a temporary restraining order preventing Mr. Knoblauch from working for the Company as Chief Financial Officer pending further order of the Court.
• The order was issued in a lawsuit filed by Mr. Knoblauch's prior employer against him and the Company alleging that Mr. Knoblauch violated certain restrictive covenants and retained confidential information belonging to his prior employer.
• Mr. Knoblauch, the Company and Mr. Knoblauch's former employer entered into a settlement agreement and mutual release to resolve the matter.
• David Smith, a current director on the Board, had acted as Interim Chief Financial Officer and principal financial officer during Mr. Knoblauch's leave of absence.
• In connection with Mr. Knoblauch's reinstatement, Mr. Smith stepped down from the Interim CFO position but will remain a member of the Board.

Appointed: David Smith, Chief Financial Officer

On July 27, 2026, the Board of Directors of the Company (the "Board") appointed David Smith, a current director on the Board, to act as Interim Chief Financial Officer and principal financial officer ("Interim CFO").

Appointed: David Smith, Senior Vice President

In October that year, Mr. Smith was promoted to Corporate Senior Vice President with responsibilities for all Discovery Services at Charles River.

Also stated in this filing

• In connection with this appointment, Mr. Smith will remain on the Board but has stepped down from the Audit Committee and the Management Development and Compensation Committee of the Board.
• Jason Knoblauch, who was appointed as the Company's Chief Financial Officer effective July 6, 2026, has been placed on a paid leave of absence due to pending litigation, as described further below.
• Mr. Smith, 60, has over 25 years of pharmaceutical industry experience and has served on the Board since 2023.
• Mr. Smith served as Executive Vice President and Chief Financial Officer for Charles River Laboratories International, Inc., an American pre-clinical contract research organization supporting the global pharmaceutical industry.
• Mr. Smith joined Charles River in April 2014 through their acquisition of the Galapagos Services Division, which was carved out from its parent company Galapagos NV, a Belgian pharmaceutical research company.
• Mr. Smith served as the Chief Executive Officer for that division and, on its acquisition, continued to manage its operation as Corporate Vice President at Charles River.
• In the following February, he was nominated as the successor to the incumbent Chief Financial Officer, formally taking the helm in August 2015, a post Mr. Smith held until his retirement in May 2022.
• During Mr. Smith's tenure as Chief Financial Officer, Charles River entered the S&P 500 in May 2021.

Departing: Robert A. Parks, Chief Accounting Officer

On July 8, 2026, Robert A. Parks informed Fortrea Holdings Inc. (the "Company") of his intention to resign from his position as Chief Accounting Officer and principal accounting officer to pursue an opportunity outside the contract research organization industry.

Appointed: Carrie Russell, Chief Accounting Officer

On the Effective Date, Carrie Russell, the Company's Vice President of Accounting, will be designated as and assume the responsibilities of interim principal accounting officer and interim Chief Accounting Officer in addition to her role as Vice President of Accounting, until a successor principal accounting officer and Chief Accounting Officer is appointed.

Also stated in this filing

• Mr. Parks' resignation will be effective August 7, 2026 (the "Effective Date").
• Mr. Parks' decision to resign was not the result of any disagreement with the Company or its Board of Directors relating to the Company's operations, policies or practices or any issues regarding its accounting policies or practices.
• Until the Effective Date, Mr. Parks will continue in the role of Chief Accounting Officer and principal accounting officer and assist with the transition of his responsibilities.
• Ms. Russell currently serves as the Company's Vice President of Accounting, a position she has held since August 2024.
• As Vice President of Accounting, Ms. Russell is responsible for the Company's accounting function, including technical accounting, accounting policy, financial close and consolidation, internal controls over financial reporting, and external financial reporting.
• Prior to joining the Company, Ms. Russell spent nearly 17 years with PricewaterhouseCoopers LLP ("PwC'), most recently serving as a Trust Solutions Audit Director within the Health Industries practice.
• Her tenure at PwC included two years in PwC's National Office SEC Services group, where she advised registrants and engagement teams on SEC reporting requirements, financial reporting matters, and the application of U.S. GAAP and SEC regulations.

Appointed: Jason Knoblauch, Chief Financial Officer, effective 2026-07-06

Background Fortrea Holdings Inc. (the "Company") has appointed Jason Knoblauch as the Company's Chief Financial Officer, effective July 6, 2026 (the "Transition Date").

Appointed: Jason F. Knoblauch

The Company's Board of Directors (the "Board") has appointed Jason F. Knoblauch, 45, as CFO and principal financial officer, effective as of the Transition Date.

Also stated in this filing

• He will succeed Jill McConnell, who is stepping down as Chief Financial Officer on the Transition Date but intends to remain employed with the Company for a transition period.
• From August 2023 to June 2026, Mr. Knoblauch served in multiple roles at Clario, a leading provider of digital endpoint data solutions, including as Executive Vice President and Chief Financial Officer.
• Prior to Clario, Mr. Knoblauch served as Senior Vice President and Chief Financial Officer of Curia (formerly Albany Molecular Research, Inc.), a global contract research, development and manufacturing organization, from April 2020 to August 2023.
• From April 2013 to March 2020, Mr. Knoblauch served in a variety of finance roles of increasing responsibility at Pharmaceutical Product Development ("PPD"), including Senior Vice President, Business and Commercial Finance, Interim Chief Financial Officer, and Head of Corporate Finance/FP&A. Earlier in his career, Mr. Knoblauch worked in transaction advisory services at PricewaterhouseCoopers from 2006 to 2013, and began his career in audit at Ernst & Young from 2003 to 2006.
• Mr. Knoblauch is a member of the Board of Directors of Surgical Information Systems, a provider of software solutions and services for ambulatory surgery centers.