Genenta Science to Close U.S. Subsidiary and Transition CFO to Consulting Role
On April 28, 2026, Genenta Science S.p.A. announced a strategic decision to cease its U.S. operations and close its wholly owned subsidiary, Genenta Science, Inc., by July 31, 2026. This move is part of a broader strategy to streamline global operations, reduce costs, and focus on building an industrial aggregator in Italy and Europe. Consequently, Richard B. Slansky, the Companyβs Chief Financial Officer and sole remaining U.S. employee, will transition from his employment role to a consulting capacity effective June 1, 2026. Under a 12-month binding consulting agreement, Mr. Slansky will continue to serve as the principal financial and accounting officer, overseeing SEC and Nasdaq compliance, auditing, and financial reporting. The transition is expected to result in annual savings of over $[***] for the company. The closure of the U.S. subsidiary is not anticipated to have a material adverse effect on Genenta's overall financial position or liquidity. Mr. Slansky will receive a monthly consulting fee and healthcare reimbursements but will not receive severance from his terminated employment agreement.