Agility Robotics splits CFO-COO role as it prepares to go public

The job of CFO is expanding at many companies, but Agility Robotics is going the other direction as it prepares for its next stage of growth, separating finance and operations under two executives.

Michael Beer joined Agility as CFO in July, taking the finance leadership reins from Jennifer Hunter, who held the role while also serving as chief operating officer. Hunter is now focused exclusively on operations as Agility scales manufacturing and commercial deployments of its humanoid robots.

For Beer, the immediate priority is preparing Agility for its emergence as a public company while helping the business expand.

“I’m joining a great team of folks that have been marching forward with the goal of getting this finalized later this year,” he said in an interview.

Salem, Oregon-based Agility says its humanoid robots are designed to operate alongside teams in warehouses, manufacturing facilities and distribution centers, tackling “physically demanding and repetitive tasks.”

The company, whose customers include Amazon and Toyota Motor Manufacturing Canada, is planning to go public through a proposed merger with special purpose acquisition company Churchill Capital.

The transaction, announced in June, values Agility at $2.5 billion on a pre-money equity basis and is expected to provide more than $600 million in gross proceeds, including more than $421 million in Churchill’s trust account and about $200 million from a PIPE investment.

The transition away from a combined CFO-COO role reflects the growing demands on both functions as the company expands, according to CEO Peggy Johnson.

“Michael brings outstanding public company finance and capital markets experience, while Jennifer, with her prior experience as a publicly traded COO, will focus exclusively on scaling our operational excellence and manufacturing capabilities,” she said in a press release last month. 

Agility’s decision to separate finance and operations comes as the two functions are increasingly converging elsewhere.

L.E.K. Consulting’s 2025 Office of the CFO Survey found that nearly two-thirds of CFOs said their responsibilities overlap with those of the COO, while about 10% said the two roles were fully combined. L.E.K. said the convergence reflects increasing pressure to connect financial and operational decision-making as companies face tighter margins and shorter decision cycles.

Prior to joining Agility, Beer served as CFO and head of corporate services at Energy Vault, joining more than two years after the company completed a SPAC merger in 2022. He previously served as finance chief at FreeWire Technologies and as head of financial strategy and investor relations at Luminar Technologies, which went public through a SPAC merger in 2020.

Beer said his experience with SPAC mergers will inform his approach as Agility prepares for its own transaction.

Agility has already confidentially filed its Form S-4 registration statement as it works toward completing the transaction later this year, according to Beer. The company is also building out investor relations and other functions to prepare for the increased demands of operating as a public company.

Besides preparing the company for the public markets, Beer said his first-100-days priorities also include getting to know Agility’s facilities and employees.

The company recently opened a new 60,000-square-foot facility in Fremont, California, to accelerate development of the AI technologies that enable its humanoid robot, Digit, to learn new skills.

Beer said the separation of finance and operations does not mean the functions will operate in silos.

“I do embolden and empower my team to liaise with other business units,” he said.