iRobot R&D Chief Exits with Severance Package and Conditions

iRobot (IRBT) just unveiled an update.

iRobot Corporation’s Chief Research and Development Officer, Faris Habbaba, has parted ways with the company effective immediately. As per their Separation Agreement, he is set to receive six months of his base salary as severance and potential contributions to his healthcare insurance for the same period, conditional on COBRA coverage election. Additionally, the agreement includes a release of claims from Habbaba and an affirmation of his adherence to post-employment restrictions.

Find detailed analytics on IRBT stock on TipRanks’ Stock Analysis page.