Cannae Holdings, Inc.

Cannae Holdings, Inc. announced that Bryan D. Coy resigned from his position as Executive Vice President and Chief Financial Officer on June 10, 2026. His resignation was not due to any disagreement with the company. In connection with his departure, Mr. Coy will receive accelerated vesting of 21,327 restricted shares and up to six months of base salary as transition payments. Concurrently, Brett A. Correia was appointed as interim Chief Financial Officer, effective June 10, 2026, with a base salary of $300,000. Mr. Correia has served as Cannae's Chief Accounting Officer since August 2019.

Cannae Holdings reported a net loss attributable to common shareholders of $(32.1) million, or $(0.70) per share, for the first quarter of 2026, a significant improvement from the prior year's loss. Total operating revenues for the quarter were $96.2 million, down from $103.2 million year-over-year. The company continued its share repurchase program, buying back 1.185 million shares for $15.2 million in Q1 2026 and an additional 2.1 million shares for $27.2 million post-quarter. Strategic developments include Black Knight Football's acquisition of the remaining 60% of FC Lorient for $70.3 million and the termination of a revolving loan facility.

Cannae Holdings, Inc. reported a net loss attributable to common shareholders of $(32.1) million, or $(0.70) per share, for Q1 2026, an improvement from $(113.0) million, or $(1.81) per share, in Q1 2025. The company continued its strategic focus on sports and entertainment investments and aggressive capital return, repurchasing 3.4 million shares for $43 million in Q1 2026. Portfolio companies showed mixed performance, with Black Knight Football's AFC Bournemouth in contention for European competition, while the Restaurant Group faced revenue declines and store closures.

Cannae Holdings, Inc. announced significant corporate governance changes, including William P. Foley, II transitioning from CEO/Chairman to non-executive Vice Chairman, Douglas K. Ammerman becoming independent Chairman, and Ryan R. Caswell appointed CEO. The company terminated its external Management Services Agreement, effective May 12, 2025, leading to a significant reduction in management fees and a lower termination fee. The board was transformed with four new independent directors, and a proposal to declassify the board was approved with a 98.9% vote. CNNE also authorized a new stock repurchase program for up to 10 million shares, adding to the $1.1 billion repurchased since 2021, including $350.1 million in 2025 and year-to-date 2026. Corporate operating expenses were reduced by $6.8 million (10.2%) in 2025, excluding one-time costs, and the company is accelerating its portfolio transformation to focus on sports and entertainment investments, exemplified by Black Knight Football Club's acquisition of the remaining equity of FC Lorient.